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FINAM Investment rolls out Smart Engines document capture technology

Tuesday 14 January 2020 10:38 CET | News

FINAM Group, a large Russian retail broker, has integrated Identity documents recognition systems based on artificial intelligence and computer vision from Smart Engines.

The technology has been introduced into FINAM’s information systems to assist the processes of registering new clients by automatically entering their personal data into the internal KYC system. Smart IDReader supports the identification process at web-interface level – from the client’s side, and at the record-keeping systems level – from service managers side.

For new and existing clients of FINAM, their passport data is required in several instances: first, it should be provided at the contract finalisation stage, and in the future, if their passport details have changed, or when the client wants to perform various financial transactions, according to the official press release.

To conclude the agreement, the customer service manager or the client alone has to attach an image of their identity document (passport) – either as a scan or as a photo – to their personal account; thus, the image gets into the backend where it will be processed by Smart IDReader system. Further, in their personal account the new client would need to confirm the displayed passport data. In cases where Smart IDReader is unsure in the recognition results, it indicates the relevant fields, warning that those need to be checked more attentively, as they might contain errors.


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Keywords: regtech, KYC, Russia, retailer, partnership, FINAM Group, document check, AI, passport data
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: Russian Federation
This article is part of category

Securing Transactions