Case Study: Large Bank cuts KYC cycle time from 8 days to 2 days and boosts accuracy to 99.5% with Datamatics' i-Q

Processing Know Your Customer forms for a leading Bank

Large Bank, a financial institution with over $2 billion in assets and more than 2,500 branches, faced mounting challenges processing escalating volumes of KYC forms: manual workflows, untracked documents, long account‑opening cycle times and low accuracy. Datamatics was engaged to modernize KYC operations using its KYC Form Processing solution powered by i-Q (with supporting tools such as the Classify application and iPM/i-Process Manager).

Datamatics delivered an end‑to‑end service—redesigning forms, setting up on‑site scanning/mailroom operations, deploying i-Q for capture, ICR/OCR and validation (including the IndiaNa name/address check), and integrating secure CSV/FTP outputs with the bank’s core banking system and iPM for MIS and exception handling. The solution cut cycle time from 8 days to 2 days, raised data quality from 95% to 99.5%, reduced per‑form processing time from 900s to 265s, and significantly lowered operational costs while improving downstream efficiencies.