Case Study: PayU accelerates customer onboarding with Docsumo

Automating Customer Onboarding for PayU

PayU, a multinational fintech company, faced a significant challenge in its Indian digital lending operations. They needed to manually collect and process over 100,000 loan applications monthly, requiring the examination of numerous identity, address, and income documents. This manual data entry was slow, taking 24-48 hours per application, and previous attempts to automate it with other vendors and in-house solutions had failed. PayU turned to Docsumo and its Document AI APIs to automate this customer onboarding workflow.

Docsumo implemented an API-based solution to automate data capture from complex documents like bank statements and identity cards. The system classifies documents, extracts text and tables with high accuracy, and uses intelligent categorization and fraud checks to prepare data for underwriting. This integration resulted in a processing time of under 30 seconds per document, a 70% reduction in processing costs, and enabled over 95% of applications to be processed straight through without human intervention.

PayU

Prashanth Ranganathan

Chief Executive Officer