TBI, consumer and SME-focused bank, having noticed the rising customer expectations, in the most uncertain economic conditions, chose Cloudfin’s technology to provide a fast and easy customer experience for a consumer to get a loan.
Once, that kind of procedure was more complicated but that’s the reason why the bank found it necessary to leverage service technologies that provide holistic solutions for the customer, such as “Digital on Boarding Engine” of Cloudfin that is considered an easy way to digitally identify a client and allow to access different banking services.
Through AI with verification and data extraction for any ID, tax, corporate or utility document and powerful person’s liveness and biometrics, the service helps the bank identify the consumer’s credibility. The platform verifies the information provided from a consumer in an effort to access TBI Bank’s Banking services like getting a loan or creating a savings account and in the face of increasing customer demands on the one hand and growing regulatory complexity on the other, the Bank improved efficiency by integrating CloudFin’s solution with their existing On-Boarding platform.
The solution improves the speed and accuracy of the reconciliation by automating the bank’s routine and the high-volume transactional processes and at the same time it makes it affordable for both users and the bank to complete their task without complexity.