Can IDP improve banking and financial services?

In the era of big data, the number of documents will continue to pile up. As a result, it is difficult for banking and financial services to manage efficiently without help. Further, the data should be used for actionable intelligence and better decision-making.

Nonetheless, the banking and financial services sector is plagued with large volumes of documents to verify and repetitive processes. IDP can turn document processing into a touchless activity. Account opening, client onboarding, mortgage applications, tax forms, and KYC verifications are just some examples where IDP solutions can be transformative.