Retail Banking

Transform Retail Banking using intelligent AI-driven automation

We provide services in the following three categories:

ONBOARDING - INDIVIDUAL SAVING A/C

  • Banks & Financial institutions who are dealing with Individual Customer Accounts are mostly benefited by this service.
  • The traditional method of onboarding customers carried out by the banking institutions took several days for its completion.
  • Introduction of this platform shortens the customer onboarding process to minutes.

How PiChain helps Financial Institutions in Customer Onboarding

  • The Auto-feeding of details in the Database entered by the customer in the KYC form reduces the time & efforts of the human workforce.
  • The advanced technology used in real-time document verification eases data extraction, forgery checks & data verification.
  • This solution helps to enhance customer experience and ensure accurate & quick completion of the KYC verification process.

ONBOARDING - SME CURRENT A/C

  • This solution is mostly applicable to Small & Medium Enterprises (SMEs) who want to open a current account with the bank.
  • The present process of opening a Current Account with a Bank is a daunting task which involves enormous paperwork.
  • The customer feels this process to be tiresome & requires extensive efforts.
  • The bank or financial institution has a huge paper trail and also have to invest in manual teams to complete the process.

How PiChain helps Financial Institutions to Automate SMEs Current A/C Onboarding

  • The option of Auto-feeding of details of the customer reduces the time & efforts of the human workforce.
  • Data extraction, forgery checks & data verification process can be conveniently carried out using Digital KYC & real-time document verification.
  • Multiple signatories can be onboarded digitally with the dissemination of application that usually took weeks.
  • 100% compliance with the required KYC mandates is achieved using Regulatory Intelligence, an AI-enabled technology.
  • With respect to risk compliance, Algorithmic Risk Assessment helps to gauge the risk associated with the customers.
  • Achieve speedier assessment of customers using comprehensible visual dashboards with derived outputs & checks
  • Integration of third-party services on this platform provides secure, seamless customer experience for all stakeholders.

Bank Branch Automation

  • The time-consuming conventional process of opening a Bank account is seen as a major concern not just for the customers but even for the bank personnel.
  • PiChain has come up with a unique AI-enabled video KYC solution to surmount the difficulties caused by the tedious manual process at banks that consumed a great number of business resources.
  • The real-time operation of opening a bank account remotely accompanied by thorough fraud detection & compliance regulatory guidelines.

How PiChain assist in Automation of Branch

  • With Video KYC Computer Vision driven advanced technologies, 7.5 Million+  documents can be scanned every day.
  • Save processing time up to 90% per form.
  • 99.73% accuracy in object detection for error-free results.
  • Save up to 56,000 man-hours across the organization per day.
  • Advanced multilevel authentication and biometrics including facial and behavioural biometrics.

INDIVIDUAL RETAIL LENDING PLATFORM

The retail lending conducted by the banks is mainly in the form of loans, for instance:

Personal Loans

Vehicle Loans

Home Loans

Education Loans

Business Loans for SMEs

Corporate (Merchant Loans)

How PiChain assist in Digitization & Automation of Retail Lending

The platform created by PiChain allows banks to create a direct digital flow of information between the customer and the Relation Manager in less than 3 weeks. A no-code platform is used to shorten this cycle thus bringing over efficiency in the operations. Over 200 Data sources accumulated in our API marketplace allows the bank to create & develop modern underwriting systems. Using the GUI-based configurations, you have complete control of these systems. Benefits offered by the platform are:
  • Up to 75% reduction in Operational Expenditure.
  • 90% reduction in Turnaround Time.
  • Up to 3X increases in sales efficiency.

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