Specialist packager firm Y3S has partnered with fintech Sikoia to improve the customer verification process.
Sikoia automates the customer verification process for financial services firms, and by integrating this technology, Y3S will be able to streamline common tasks. This will include biometric identity verification (IDV), anti-money laundering (AML) checks and processing mortgage application documents.
The firms said this indicated a step forward in modernising administrative tasks within the specialist lending sector.
Sikoia’s AI-powered document processing solution allows brokers to extract verified information such as affordability, income, and risk indicators from bank statements, payslips, and tax returns from customer documents within minutes.
The technology can be integrated into a broker’s platform and aims to improve accuracy, strengthen fraud prevention and allow for faster decision-making.
Barney Drake, CEO of Y3S, said: “At Y3S, safeguarding our brokers and their clients is a top priority. Our partnership with Sikoia demonstrates our dedication to staying ahead of the curve in fraud prevention and compliance, giving brokers greater confidence in the solutions we offer. This partnership aligns with Y3S’ mission to provide exceptional service while upholding trust and transparency in the specialist finance industry.”
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Alexis Rog (pictured), founder and CEO of Sikoia, added: “We are excited to partner with Y3S to bring our automation technology to their business platform. Verifying a customer’s identity, income, and documents has traditionally been a manual process, which can be time-consuming and prone to errors.
“Our technology not only speeds up this process but also ensures greater accuracy and reliability. With this integration, Y3S will be able to offer an even more efficient and seamless experience to their brokers and clients.”
