Author: Chris Harry

Today’s advanced world, when people are familiar with digital trends. Organizations are seeking ways to digitize operations in order to reduce manual labor. COVID-19 also contributed to carrying out their regular tasks via digital platforms. Customers prefer to do everything online, from shopping to banking. Customers’ interest in internet trends has risen dramatically in recent years. This new normal has compelled businesses to have a digital home for their products and services. Companies are attempting to automate their data extraction activities using OCR technology.  OCR Technology  A technological method known as OCR extracts data from photographs and converts it into…

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For the financial services industry, complying with rules can be a difficult endeavor, and doing so can be a drawn-out and tedious process. However, no matter how complicated the procedure is, the consequences of non-compliance might be costly. Therefore, the financial services industry needs to use a thorough Customer Due Diligence (CDD) checklist. Every company offering financial services must verify its clients during the onboarding process in accordance with international laws. Depending on the customer and the mode of account, several steps in the customer due diligence process may be required. Companies should consequently use a risk-based approach to streamline…

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