Case Study: Leading Global Bank cuts KYC turnaround from weeks to days with EdgeVerve's XtractEdge

A Leading US Bank Reduces KYC Turnaround Time From Weeks To Days

Leading Global Bank, a US-headquartered bank with global consumer, commercial, wealth and capital markets operations, faced a growing KYC burden—about 25 million historic documents across 60+ document types, multiple channels and regional variations, with 70% of customers due for periodic refreshes—while needing to standardize processes and meet diverse regulatory requirements. To address this, the bank engaged EdgeVerve and adopted its Document AI platform, XtractEdge.

EdgeVerve implemented XtractEdge integrated with the bank’s KYC application to auto-discover, classify and extract data (with human-in-the-loop review and reusable models). The solution delivered ~90% automation coverage for targeted lines of business, cut KYC turnaround from weeks to days, reduced manual effort and data-entry errors, and is expected to process an estimated 40 million KYC documents within 12 months—improving speed, compliance and operational costs as XtractEdge is rolled out to more LOBs.