Automated Computer Vision Technologies for Fraud Detection in Banking

About the Customer We Had

We assisted a customer from the United States, managing a large chain of financial enterprises like insurance companies, banks, and money transfer facilities. To expand their business boundaries by gaining more customer trust, they try hard to make their transactions error-free and build transparency and authenticity with every move. But there were several challenges they had to overcome in this digital era, and a quest to find resolutions for such issues has brought them to us.

Issues They Had in Brief

They had facilities to check passports, ID cards, Driving Licenses, etc to ensure their validity and authenticity. They had done these procedures manually, consuming more time and effort, facing various challenges, especially when the customers are in a position that cannot come to the bank. Also, the detection of fraudulent documents depended on the employee intelligence, who can make mistakes at any time.

In addition, when customers lean more towards online banking methods, authenticating transactions and providing better security measures are also important. It is essential to make the clients avail the services remotely and bring customer satisfaction boosting business through online channels. We conveyed our views upon this using automated computer vision techniques to get fast results by removing flaws in identifying frauds or imperfections in financial documents.

How Allianze Technologies Helped Them Find Resolutions?

Our expert team of AI developers interacted with the client and identified the specific requirements. The findings proposed that,

• There should develop a mechanism that verifies banking details and documents automatically.
• These systems should have expertise in identifying defects or anomalies from standardized patterns.
• It should get processed quickly, even when there are large amounts of digital or physical documents for processing.
• Removing deformed or fraudulent documents will prevent them from entering the actual documents.

AI-driven computer vision techniques can analyze digital images in bulk and identify missing parts, broken parts, deformed surfaces, or improper details in documents. Our expert team extracted data from sufficient resources and trained the automated systems to create models to which the documents need to get compared. Also, the AI tools gained more efficiency by handling more consumer data in time.

About the Final Outcome

By successfully completing the process, our client win to get the following results,

1. It made them verify the KYC documents of their clients with less time and effort using computer vision techniques comparing digital images of their documents.
2. It helped them extract data digitally from financial records by getting their scanned images and keeping them intact during the process and for futuristic purposes with less effort.
3. By providing authentication, verification, and transaction facilities online, the computer vision techniques we developed helped them boost their online banking facilities.
4. Error-free processing of claims and forms can reduce denial rates bringing better customer satisfaction build trust.
5. Identification of fraudulent documents digitally makes the process more secure and brings brand loyalty.

Developing Computer Vision with Allianze Technologies

Computer vision techniques can get applied in various business sectors to improve their quality standards. Allianze Technologies will help you have a better grip on error analysesand inventory control. Also, they bring the best results by updating deformed products effortlessly. You can know more about Allianze Technologies by reaching [email protected] and experiencing its possible benefits.