Enhancing the KYC process with AI to improve efficiency and accuracy
Redesign of the KYC journey and integration of an AI SaaS to automate document verification, reduce workload, and improve customer experience.
Context
This project fulfills three key needs:
Automate document verification using AI to lighten the compliance team's workload
Reduce customer service inquiries related to document issues
Enhance the customer experience by making the sharing of documents faster and more intuitive
Design process
Discovery
Data analysis and user journey evaluations. Audit of customer feedback regarding KYC in collaboration with the Customer Care Team and Legal Service. Analysis of user friction points on the interface using Hotjar.
Definition
Participation in the creation of the new KYC process in collaboration with stakeholders and a legal expert. Definition of different personas and user journey scenarios, both with and without the use of the AI tool.
Ideation & conception
Design of the new user interface and management of iterations following user testing.
Communication
Present the new KYC flow and ensure that internal teams familiarize themselves with the new journey.
Observation
Customer Loss
6% of customers do not complete their file, leading to the automatic cancellation of their subscription after 3 months.
”I haven't received a login ID, and I don't know what I should do.” (verbatim)
Increased Workload for Customer Service
30% of customer service inquiries relate to the completion of the domiciliation file.
A sharing of documents that is too long and complicated for users
The document space is organized into multiple pages, forcing the user to navigate through several pages to correct an error.
The user lacks an overall view of their documents and their validation status, making it difficult to track the progress of their file.
There is a lack of clarity on the types of accepted documents, leading many users to submit invalid documents.
Crafting
Integrating KYC into the client space helps resolve several pain points and offers multiple advantages…
A dedicated section
The client will be able to share their documents on a single page, track the progress of their file, and easily return to it.Focus on completion
A system of alerts to encourage the user to take action. A new button has been integrated into the system design with orange color code for all actions related to the file.Step-by-step unlocking
The customer has a preview of the steps they can unlock, which encourages them to complete their file.
User testing
Scenario
Tests conducted on 13 users, including customers of less than 3 months and non-customer entrepreneurs.
Scenario
After paying for your domiciliation subscription and filling in your company information, you arrive at the login page for your personal space. Your goal is to obtain your domiciliation contract.
The goal is to ensure that the user:
Can easily upload their documents
Identifies the company director, the host, and the beneficial owners
Successfully completes the steps to obtain their contract
Results
We found that the majority of users understood how this interface works. The points of friction mainly came from the interface of our partner handling document verification (ID Now).
Onboarding screen
10 out of 13 users did not understand the 'generate a QR code' and 'send a link via email or SMS' features.
Sharing link screen
9 out of 13 users entered their own email instead of their associate's email.
Impact
KYC Responsiveness
60% of files validated directly with AI one month after the launch. Goal to reach 80% in the long term.
Users receive their contract more quickly since they can get validation of their files 24/7, even on weekends.
Reduction of customer service tickets
Thanks to the new optimized interface and the AI document verification, the number of customer service inquiries related to file completion dropped by 30% in the six months following the implementation of the new tool. With users experiencing fewer difficulties in submitting their documents, customer service can now focus on more complex issues, thereby improving operational efficiency.
Increased conversion rate
Following the implementation of the simplified dashboard interface, users have better visibility into the status of their documents and overall file. This has led to a significant increase in the conversion rate, with drop-offs decreasing from 6% to just 3% in the six months following the rollout, thereby strengthening customer loyalty.
Optimization of Human Resources
The shift from manual document verification to the use of AI has allowed for the reallocation of human resources previously dedicated to this task. This has resulted in significant operational savings in terms of time and costs, while ensuring better accuracy in document verification.
Context
This project fulfills three key needs:
Automate document verification using AI to lighten the compliance team's workload
Reduce customer service inquiries related to document issues
Enhance the customer experience by making the sharing of documents faster and more intuitive
Design process
Discovery
Data analysis and user journey evaluations. Audit of customer feedback regarding KYC in collaboration with the Customer Care Team and Legal Service. Analysis of user friction points on the interface using Hotjar.
Definition
Participation in the creation of the new KYC process in collaboration with stakeholders and a legal expert. Definition of different personas and user journey scenarios, both with and without the use of the AI tool.
Ideation & conception
Design of the new user interface and management of iterations following user testing.
Communication
Present the new KYC flow and ensure that internal teams familiarize themselves with the new journey.
Observation
Customer Loss
6% of customers do not complete their file, leading to the automatic cancellation of their subscription after 3 months.
”I haven't received a login ID, and I don't know what I should do.” (verbatim)
Increased Workload for Customer Service
30% of customer service inquiries relate to the completion of the domiciliation file.
A sharing of documents that is too long and complicated for users
The document space is organized into multiple pages, forcing the user to navigate through several pages to correct an error.
The user lacks an overall view of their documents and their validation status, making it difficult to track the progress of their file.
There is a lack of clarity on the types of accepted documents, leading many users to submit invalid documents.
Crafting
Integrating KYC into the client space helps resolve several pain points and offers multiple advantages…
A dedicated section
The client will be able to share their documents on a single page, track the progress of their file, and easily return to it.Focus on completion
A system of alerts to encourage the user to take action. A new button has been integrated into the system design with orange color code for all actions related to the file.Step-by-step unlocking
The customer has a preview of the steps they can unlock, which encourages them to complete their file.
User testing
Scenario
Tests conducted on 13 users, including customers of less than 3 months and non-customer entrepreneurs.
Scenario
After paying for your domiciliation subscription and filling in your company information, you arrive at the login page for your personal space. Your goal is to obtain your domiciliation contract.
The goal is to ensure that the user:
Can easily upload their documents
Identifies the company director, the host, and the beneficial owners
Successfully completes the steps to obtain their contract
Results
We found that the majority of users understood how this interface works. The points of friction mainly came from the interface of our partner handling document verification (ID Now).
Onboarding screen
10 out of 13 users did not understand the 'generate a QR code' and 'send a link via email or SMS' features.
Sharing link screen
9 out of 13 users entered their own email instead of their associate's email.
Impact
KYC Responsiveness
60% of files validated directly with AI one month after the launch. Goal to reach 80% in the long term.
Users receive their contract more quickly since they can get validation of their files 24/7, even on weekends.
Reduction of customer service tickets
Thanks to the new optimized interface and the AI document verification, the number of customer service inquiries related to file completion dropped by 30% in the six months following the implementation of the new tool. With users experiencing fewer difficulties in submitting their documents, customer service can now focus on more complex issues, thereby improving operational efficiency.
Increased conversion rate
Following the implementation of the simplified dashboard interface, users have better visibility into the status of their documents and overall file. This has led to a significant increase in the conversion rate, with drop-offs decreasing from 6% to just 3% in the six months following the rollout, thereby strengthening customer loyalty.
Optimization of Human Resources
The shift from manual document verification to the use of AI has allowed for the reallocation of human resources previously dedicated to this task. This has resulted in significant operational savings in terms of time and costs, while ensuring better accuracy in document verification.
Context
This project fulfills three key needs:
Automate document verification using AI to lighten the compliance team's workload
Reduce customer service inquiries related to document issues
Enhance the customer experience by making the sharing of documents faster and more intuitive
Design process
Discovery
Data analysis and user journey evaluations. Audit of customer feedback regarding KYC in collaboration with the Customer Care Team and Legal Service. Analysis of user friction points on the interface using Hotjar.
Definition
Participation in the creation of the new KYC process in collaboration with stakeholders and a legal expert. Definition of different personas and user journey scenarios, both with and without the use of the AI tool.
Ideation & conception
Design of the new user interface and management of iterations following user testing.
Communication
Present the new KYC flow and ensure that internal teams familiarize themselves with the new journey.
Observation
Customer Loss
6% of customers do not complete their file, leading to the automatic cancellation of their subscription after 3 months.
”I haven't received a login ID, and I don't know what I should do.” (verbatim)
Increased Workload for Customer Service
30% of customer service inquiries relate to the completion of the domiciliation file.
A sharing of documents that is too long and complicated for users
The document space is organized into multiple pages, forcing the user to navigate through several pages to correct an error.
The user lacks an overall view of their documents and their validation status, making it difficult to track the progress of their file.
There is a lack of clarity on the types of accepted documents, leading many users to submit invalid documents.
Crafting
Integrating KYC into the client space helps resolve several pain points and offers multiple advantages…
A dedicated section
The client will be able to share their documents on a single page, track the progress of their file, and easily return to it.Focus on completion
A system of alerts to encourage the user to take action. A new button has been integrated into the system design with orange color code for all actions related to the file.Step-by-step unlocking
The customer has a preview of the steps they can unlock, which encourages them to complete their file.
User testing
Scenario
Tests conducted on 13 users, including customers of less than 3 months and non-customer entrepreneurs.
Scenario
After paying for your domiciliation subscription and filling in your company information, you arrive at the login page for your personal space. Your goal is to obtain your domiciliation contract.
The goal is to ensure that the user:
Can easily upload their documents
Identifies the company director, the host, and the beneficial owners
Successfully completes the steps to obtain their contract
Results
We found that the majority of users understood how this interface works. The points of friction mainly came from the interface of our partner handling document verification (ID Now).
Onboarding screen
10 out of 13 users did not understand the 'generate a QR code' and 'send a link via email or SMS' features.
Sharing link screen
9 out of 13 users entered their own email instead of their associate's email.
Impact
KYC Responsiveness
60% of files validated directly with AI one month after the launch. Goal to reach 80% in the long term.
Users receive their contract more quickly since they can get validation of their files 24/7, even on weekends.
Reduction of customer service tickets
Thanks to the new optimized interface and the AI document verification, the number of customer service inquiries related to file completion dropped by 30% in the six months following the implementation of the new tool. With users experiencing fewer difficulties in submitting their documents, customer service can now focus on more complex issues, thereby improving operational efficiency.
Increased conversion rate
Following the implementation of the simplified dashboard interface, users have better visibility into the status of their documents and overall file. This has led to a significant increase in the conversion rate, with drop-offs decreasing from 6% to just 3% in the six months following the rollout, thereby strengthening customer loyalty.
Optimization of Human Resources
The shift from manual document verification to the use of AI has allowed for the reallocation of human resources previously dedicated to this task. This has resulted in significant operational savings in terms of time and costs, while ensuring better accuracy in document verification.