Securing the Future of Finance: 60% Faster Onboarding for a Leading BFSI Provider

The Challenge: The “High-Friction” Compliance Wall

Our client, a prominent player in the Banking, Financial Services, and Insurance (BFSI) sector, was struggling with a legacy customer onboarding process that was a major deterrent for the “digital-first” generation.

The critical pain points included:

• Manual Bottlenecks: Their Know Your Customer (KYC) flow was heavily reliant on physical document submission and manual verification by back-office agents. This led to an average onboarding time of 3 to 5 days.

• Drop-off Rates: Potential customers, frustrated by the cumbersome paperwork and long wait times, were abandoning the application process mid-way. The bank was losing high-value leads to more agile FinTech competitors.

• Security & Compliance Anxiety: With rising instances of synthetic identity fraud and deepfakes, the manual review process was no longer a foolproof defense. The bank needed a system that was not only faster but also more secure and strictly compliant with evolving RBI and global AML (Anti-Money Laundering) guidelines.

The mandate for Moptra was clear: Automate the friction, harden the security.

The Moptra Solution: An AI-Driven “Trust Engine”

Moptra redesigned the bank’s digital operations from the ground up, moving away from a paper-trail system to a high-velocity, AI-powered Digital KYC (e-KYC) platform.

1. Intelligent Document Digitization (AI-OCR): We implemented an advanced Optical Character Recognition (OCR) engine powered by Deep Learning. Instead of manual data entry, customers simply snapped a photo of their ID (Aadhaar, PAN, or Passport). The system instantly extracted data with 99% accuracy, auto-filling the application form and validating the document’s security features in real-time to detect forgeries.

2. Biometric Liveness & Face Match: To combat identity theft, we integrated a Biometric Verification layer:

• Liveness Detection: The system required a 3-second passive video check to ensure the person was physically present and not a static photo or a deepfake.

• Facial Matching: Our AI compared the “live” selfie against the photo on the government ID using 128-point facial mapping, ensuring a perfect match before proceeding.

3. API-First Integration & Video KYC (v-CIP): For high-value accounts requiring enhanced due diligence, we built a Video-KYC module.

• The Tech: Using WebRTC for secure, low-latency video streaming, we enabled bank officers to conduct live interactions. The platform featured geo-tagging (to verify the customer’s physical location via GPS) and concurrent document capture during the call.

• Microservices Backend: The entire flow was orchestrated using a Node.js microservices architecture, allowing the KYC engine to communicate seamlessly with the bank’s core banking system (CBS) and external credit bureaus via secure RESTful APIs.

4. End-to-End Encryption & Compliance: Security was non-negotiable. We enforced AES-256 encryption for data at rest and TLS 1.3 for data in transit. The solution was built to be modular, ensuring that as regulatory “norms” change, the compliance logic could be updated without rewriting the core application.

The Outcome: Compliance at the Speed of Digital

The transformation turned the bank’s biggest weakness into its strongest competitive advantage:

• 60% Faster KYC Flow: The end-to-end onboarding time was slashed from days to under 10 minutes for the vast majority of users.

• Increased Conversion: With the friction removed, the bank saw a 45% surge in successfully completed digital applications within the first quarter.

• Enhanced Fraud Prevention: The AI-biometric layer successfully flagged and blocked 15% more fraudulent attempts than the previous manual process.

• Operational Savings: By automating the bulk of the verification work, the bank reduced its manual compliance workload by 40%, allowing staff to focus on high-complexity cases.