Jukshio partnered with Reliance Jio a multinational company to address its KYC challenges. Their existing KYC solution's inability to handle sophisticated fraudulent attempts, the error rate, and regulatory changes concerned the client. By leveraging advanced technologies such as FR, FL, and AI, Jukshio developed a highly accurate document verification solution that achieved a 99.998% accuracy rate. The client benefited from significant cost savings (91% reduction in expenses) and increased fraud detection (30% improvement). The solution reduced human intervention, improved operational efficiency, and minimized errors caused by human fatigue. It offered customizable features, convenient integration, real-time dashboards, and customizable web and mobile flows. The client successfully onboarded over 615 million users, enjoying a cost-effective, regulatory-abiding, revenue-enhancing, and customer-centric solution. Jukshio's advanced AI and ML capabilities ensured superior fraud detection and operational efficiency, positioning the client as a market leader in its industry. Overall, Jukshio's collaboration provided the client with a highly accurate and efficient D-KYC platform, resulting in substantial business benefits and technological advancements.
Our client, a multination company, faced issues with accuracy, cost-effectiveness, and time taken to process KYC. The client is intensively involved in ‘DKYC’ not only to meet regulatory requirements but also to expand in the industry while keeping fraud at bay. Their existing process's inability to handle sophisticated fraudulent attempts and the error rate during the processing of KYC and regulatory changes concerned the client. They approached us for solutions as we were already engaged with them on their attendance management system with the deployment of FR Solution named mHere
In the process of upgrading our existing FR and FL technologies, the AI learned from millions of samples. With AI, we built a document verification technology that can detect any kind of discrepancies in the document like improper document templates, blurred documents, partial documents, and photocopies. The AI could also detect spoofed IDs wherein any details of the documents have been altered or tampered with. Our unique Human-Machine combo allowed the process accuracy to 99.998%—this differentiated Jukshio from other competitors in the market.
The team leveraged AI to make Facial Recognition and Liveness technologies highly accurate and precise. They formulated a Document verification AI technology capable of extracting data and detecting any irregularities in the documents, such as spoofed or tampered documents. Constant upgrades and human-aided Machine Learning helped the AI to tackle the different types of fraudulent practices used to trick the system.
The technology we provide is highly customizable. It allows the client to modify their business workflows as and when needed. Our unique human-aided Machine Learning helped us achieve an accuracy of 99.998%, one of the best in the industry.
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Technical benefits:
The outcome was a highly accurate and precise D-KYC platform with an enhanced user experience. By reducing the cost to 1/10th of the previous resources, we have provided better business competitiveness to the client in this segment. The client saved 91% in overall expenses and onboarded over 615 million users.