Retail Banking
Transform Retail Banking using intelligent AI-driven automation
We provide the following retail banking solutions:
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.
- This retail banking solution eases the complex process of digital onboarding.
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.