Whether you are a financial services provider, insurer or healthcare provider, the capture and processing of data from ID documents is a small but crucial part of important business processes. And this is exactly why efficient handling is essential. However, many companies are lacking in this area. Manual processing of ID card is not only inefficient and expensive, but also prone to errors. Risks that companies with sensitive data want to avoid at all costs. This is possible with a modern automation solution.
Key takeaways: Sensitive documents such as ID documents require an efficient and secure solution for processing the data. Intelligent Document Processing (IDP) has all the features required for secure and efficient processing of identity cards.
The problems with processing identity cards
Identity cards play a crucial role in verifying a person’s identity. However, banks, insurance companies and healthcare providers, among others, are confronted with various problems when processing ID cards. These mainly revolve around manual data entry and an increased susceptibility to errors with particularly sensitive information. At the same time, depending on the sector, legal regulations come into play, such as Know Your Customer (KYC) and Anti Money Laundering (AML). Both are legal regulations that are mandatory for companies in the banking and financial services sector in particular. The regulatory processes are used to control and minimize fraud, money laundering and financial crime. Banks and financial service providers carry out a KYC process to verify the identity of new customers and to prevent fraud.
From banks and insurance companies to healthcare providers
Different industries and different use cases, yes – but they all rely on the efficient capture and processing of data from identity cards somewhere in their processes:
Banks and financial service providers: For onboarding new customers and the Know Your Customer process, identity cards need to be captured alongside data from bank statements to verify individuals.
Insurance companies: When applying for a new insurance policy, insurance companies need to collect and store data from the identity card.
Healthcare providers: Before providing medical services in a healthcare facility, the healthcare provider needs to collect information from the identity card in addition to the data from the health insurance card during the registration process.
Government: For almost all public services, the government requires the identity card in order to verify the person. Here too, this data must be recorded in the system.
Choosing the right automation solution
The need for an efficient way to process identity cards for various use cases is therefore obvious. What remains is the search for a suitable automation solution. Various factors play a role here, including:
- How powerful is the solution? Can the solution handle formats with poor image quality? Is quality enhancement performed automatically? Can different formats of identity cards be processed?
- How secure is the solution? Is the solution fully GDPR compliant and can it handle sensitive data such as that contained in the identity cards? Is the solution operated in a secure cloud infrastructure?
- Can other document types also be processed? Can the solution be used to easily process other document types in addition to identity cards?
- How easy is the solution to use? Can people who are not IT specialists also use it? How simple is the user interface?
Parashift’s Intelligent Document Processing (IDP) solution has all the necessary features for accurate data extraction. Here’s why:
- Parashift is a cloud-native IDP solution that is at the forefront of AI development while meeting all InfoSec and compliance requirements. The solution is specifically designed to enable organizations to process sensitive data such as identity cards in a secure and privacy-compliant manner.
- The Parashift IDP solution is fully EU GDPR compliant, enabling companies in any industry to process sensitive customer data securely in the cloud.
- Parashift has developed a unique approach: Document Swarm Learning. This enables learning across all use cases and all clients on the IDP platform. This generates a massive network for learning data for document intelligence, of course always in compliance with the highest InfoSec and compliance requirements.
View of the IDP platform user interface
With the Parashift IDP platform, identity cards can be captured automatically and the data extracted from them in its entirety. Let’s take a look at the platform for a better understanding. All the necessary data is automatically extracted from the identity card, in this example a Swiss identity card:
- General information: Identity card number, country, first name, last name, date of birth, validity date, authority, etc.
- Information from the machine-readable zone (MRZ): Identity card number, country, date of birth, validity date, first name, last name, etc.
The machine-readable zone (MRZ) on the back of the ID card, which contains the data in a defined format, is particularly important for the ID card. The Parashift IDP platform can also easily capture the data in the MRZ area.
Conclusion: Parashift as a central hub for data extraction
With the Parashift IDP solution, you can automate the processing of identity cards, bringing efficiency to essential business processes while reducing costs. With its comprehensive data extraction capabilities, the IDP solution becomes the central hub for capturing and processing not only ID cards, but all your document types – regardless of complexity and layout.
Or test the easy-to-use Intelligent Document Processing platform yourself for 14 days free of charge and with no obligation.
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