Identity document verification often forms an integral part of business critical processes like customer enrolment and new client registration. Other situations where certified identity is include KYC (Know Your Customer) checks within the regulatory & compliance guidelines set out in the Betting & Gaming sector.
These ‘text rich’ documents are one of the richest sources of data for any business. Details include names, proof of address, bank account details, transactional details, dates, times etc. They all contain valuable information that can be used to automate manual processes, better understand users, or find valuable insights. However, traditional algorithms struggle at processing these unstructured documents. This is where Machine Learning (ML) can play a role.
Machine learning journey
Providing one single integration for all your KYC document processing, our Machine Learningjourney began many years ago.
We recognise that that whilst the field develops further, machine learning promises to support potentially transformative advances in a range of areas outside of mere document verification. When you add in optical character recognition and associated text extraction / document classification, the social and economic opportunities can be significant.
In recent months, we’ve engaged with several Academic Research Institutions to help push our thinking in this area. Together we aim to examine how we can extend what we already have in place today.
Machine Learning can further help our clients reduce fraud, increase conversion within their online acquisition processes and in turn, enhance back-office efficiency.
Recent years have seen exciting advances in Machine Learning across many different market sectors and verticals. Our on-going work will allow us to remain at the forefront of initiatives to make customer on boarding, fraud prevention and responsible gambling as reliable, affordable and frictionless as possible.
W2’s aims for machine learning
With advances in Machine Learning, we can state the aim of our Machine Learning strategy as:
“We are looking to make our products & services more insightful and intelligent than they are already.