Ural Bank for Reconstruction and Development introduces KYC technology

2024: Introduction of automatic document digitization and customer identity recognition technology

The Ural Bank for Reconstruction and Development (UBRD) has introduced a technology for automatic digitization of documents and customer identity recognition (KYC) in the process of remote issuance of debit cards. Artificial intelligence (AI) was entrusted to carry out user identification and document verification, due to which the average time for activating the card was reduced by 3 times, and the bank's labor costs for processing operations by 5 times. The technology was developed and helped to introduce the bank by the Russian company Biorg, which announced this on December 13, 2024.

The AI service analyzes the relevance and reliability of the data uploaded to the bank's information system within a few seconds. For example, reconciles a client's photo with his own photo in a document, KYC verification. The system allows you to recognize a banking application and check the formal correctness of its filling.

We continue to optimize business processes to make customer interaction with the bank faster and more convenient. This time, we have automated routine identity checks in the process of remote card issuance. Customers can start using the card faster, as we have minimized the technical actions required for activation. It is important for us that AI technology removes issues related to unproductive labor from our employees: routine reprinting of data and formal checks. At the same time, the safety of the process is increased, - said Maria Khladtseva, Managing Director of the Joint Operations Center of UBRD.

AI analyzes the documents submitted by the client and checks the reliability of the data using optical character recognition technology and special algorithms. This reduced the time for processing applications and increased the productivity of bank employees.

Reducing operational costs, automating routine operations and ensuring the quality of information processing are the requirements that business puts forward for automation technologies. Thanks to the proprietary two-stage recognition system, Biorg guarantees business the quality of recognized data at least 99%. We solve the problems of processing complex information, including handwritten forms. And our KYC module for remote identification makes the identity verification process fast, convenient and safe for everyone. Beorg Smart Vision technology reduces the risks of fraud, which is especially important in the financial sector, "said Ruslan Aligadzhiev, CEO of Biorg.

As a result of automation, the bank takes customer interaction to the next level, making it faster, safer and more convenient.

The KYC project on remote card issuance was a continuation of the previously launched cooperation between UBR Bank and Biorg. In 2023, the bank automated the processing of documents for mortgage lending using the technologies of the Skolkovo resident. Then the time for considering sets of loan applications was more than halved - from 45 to 20 minutes. Together with other optimization measures, this allowed the bank to increase the number of mortgage loans issued by 1.5 times.