The current on-boarding process applied by financial institutions is highly inefficient. Valuable staff cost and time is spent on the on-boarding process as customers have to physically go to a brick-and-mortar bank branch with all their legal documents, stay in a long queue, and the whole experience is rather stressful and inefficient for all parties involved. According to the World Bank 2018 report, 44.28% of world population live in rural areas and for them going to a bank means a day-or-two job depending on the nearest bank branch. Furthermore, the risk of customers being ill-treated due to human biases posed by the bank's personnel is of course prevalent. Often people from poorer or disadvantaged backgrounds are subject to the bank cashier's judgement and are denied access to open a bank account or treated unfairly. We hope that this digitization of the onboarding process will make it possible for people to access services from banks from the comforts of their home, simply with a mobile phone plus internet to be able to upload their legal documents on to our platform, securely open bank accounts and take ownership of their data. The aim is to create a win-win situation for both banks and customers where organizations reduce manual interference and makes customer on-boarding process quick and secure.
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