FlowX.AI is an AI-driven platform used by banks, insurance companies or utility companies to launch modern, omnichannel digital solutions that delight customers, in 10 weeks or less, without changing the existing infrastructure.
For the banking SME onboarding solution (account creation), FlowX.AI chose a UiPath integration.
As part of the IDV (identity verification) process, banks have to validate the identity of both the private individuals (PI) who act as company representatives and that of the SMEs. While PI identification is done through ID scanning, OCR and video/liveness tools, the company ID is done by checking the registration certificate from the Registrul Comertului (valid in Romania, or similar). Traditionally, SME representatives have to bring a printed copy taken out from Registrul Comertului, to prove that the company exists as a legal entity. This means that the process is manual, involves trips to the Registrul Comertului and the bank branch and negatively impacts the customer experience and the onboarding conversion rate.
In many countries, government applications and databases do not provide APIs, file exchanges or any other method of data exchange.
In this case, we use an integration with an UiPath robot. The robot logs in the government portal, accesses, downloads the corresponding registration certificate and sends the certificate to the appropriate banking application.
This integration helps banks streamline, automate and digitize the onboarding process, often resulting in 4X decrease in time required for the processing of one SME.