30% Reduction in Client Onboarding Processing Time

Our client, a global financial institution, faced a myriad of challenges in their client onboarding process:

1. Data quality
Unstructured data comes in various forms such as PDFs, images, scans, etc. can’t be processed by traditional RPA models.
2. Operational inefficiency
Fragmented process (spanning sales, onboarding, compliance, credit, legal and back-office operations), time-consuming manual tasks, and fragmented silos all contribute high a highly inefficient process.
3. Complex regulatory environment
Regulations are subject to frequent changes. Non-compliance from these changes, along with a number of other culprits to regulation adherence, leads to heavy financial fines, reputation damage, and long-term client-avoidance.

Using Nexus’s Intelligent Document Processing (IDP) solution, we were able to streamline our client’s onboarding process with:

1. Advanced AI engineering
– Efficient document processing with our advanced AI data extraction and workflow automation solutions.
– High sustainable accuracy (~80% at early stages, up to 90-95% over time).

2. Seamless AI-business integration
– Track record in large scale implementation with global enterprises without disrupting ongoing operations.
– Proven success in using AI to augment, not to replace, human judgment and expertise.

3. Data security priority
– Experience designing and deploying Cloud and On-premise solutions to maximise efficiencies while ensuring custom-er data protection and privacy.

4. Domain expertise
– Success in understanding as well as automating regulatory compliance processes within financial services and other highly regulated sectors.

Result
5x increase in processing speed
30% reduction in client onboarding time
90-95% accuracy
20% reduction in audit-related costs