Standard Chartered Partners with Instabase to Overhaul KYC Processes

15 de Noviembre, 2018

Tiempo estimado de lectura: 1 minuto

Instabase was previously part of Standard Chartered’s eXellerator innovation hub, and it uses natural language processing and machine learning to turn large data sets into meaningful and structured data points.

Standard Chartered will be able to use these technologies to enhance its onboarding process for corporate and institutional clients, as they’ll automatically sort through data to find the necessary information to onboard individuals. Additionally, it will help the bank speed up its lending operations for small- and medium-sized businesses (SMBs) by processing bank statements provided by clients automatically. This move should help Standard Chartered catch up to the large number of fintechs that already offer automatic onboarding processes, which are necessary for staying on top of changing consumer needs and will likely help the bank keep its customers satisfied.

Fuente: Business Insider

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