Founded in 2017 by Yasin Patel, the company started its journey with a thought to replace manual data entry for passports with something more convenient.
Founded in 2017 by Yasin Patel, the company started its journey with a thought to replace manual data entry for passports with something more convenient.

Accura Scan’s AI technology comes to the rescue of banks

Accura Scan, a B2B company based in Mumbai, has become a key player in providing AI-based fraud detection solutions to financial institutions.
By HT Brand Studio
PUBLISHED ON MAY 03, 2021 03:13 PM IST

When it comes to financial risk mitigation, fraud detection in real-time goes a long way towards improving customer experiences and boosting company reputation. Accura Scan, a B2B company based in Mumbai, has become a key player in providing AI-based fraud detection solutions to financial institutions. Founded in 2017 by Yasin Patel, the company started its journey with a thought to replace manual data entry for passports with something more convenient and easier in its approach. Mr Patel conceived of this idea with the mission to eliminate the fragile and old and obsolete sluggish algorithms.

Accura Scan is managed and designed by a Mumbai-based IT company that has more than 20 years of experience developing mobile and web applications, and just in four years of its existence, ACCURA SCAN has already been serving multiple industries with top clients that include banking & finance, hospitality, travel, airlines, telecom, immigration & border control and security.

In the wake of global pandemic, there was a need for the banks to redefine themselves as digital disruption was ubiquitous. Accura Scan’s KYC solution program makes a perfect fit for such financial schools that require security measures to prevent digital fraud or crimes. It’s algorithm for calculating the risk profile is a real-time engine, optimized to detect as much risk as possible for fraud. It leverages Machine-learning and other Artificial Intelligence (AI) techniques to optimize these operations continuously.

According to Mr Yasin Patel, CEO, Accura Scan, “Identifying with the crisis the world got into due to Covid19, sectors like banks, financial institutions, immigration, chose to initiate ‘Know Your Customer’ proceedings distantly and digitally to ensure smooth operations owing to situational constraints.”

Accura Scan makes the authentication process smooth and straightforward. It is a next-generation provider of identity verification technologies that include User Verification, Identity verification, KYC On boarding Solution, ID Scanner, OCR, Video KYC and Face Biometrics and helps prevent unauthorized access to the vast amount of personal information any organization or financial institution stored on their devices, or online. It provides modern, real-time, contactless online verification methods that protect companies from web-based threats ensuring perfect security for any essential business information or transaction systems.

Accura Scan is a Fintech and Regtech AI-based User Verification Company whose powerful User On boarding Solution with No Code AI Platform, API, and SDK technology blends seamlessly with all operating systems and especially designed to reduce transaction friction. Its AI and Machine Learning innovation confirm the User and records in Real-Time, Remotely. Also it offers an innovative Digital KYC with a Robust OCR environment that effortlessly blends with any given technology to serve you with user authentication at the highest levels swiftly with the feature-rich ID card scanning. It offers a proven real-time solution to aid in fraud prevention through identity authentication and scanning services, balancing user experience while reducing online challenges like ID forgery. It caters to financial institutions of all sizes.

In March 2021, Accura Scan provided KYC onboarding technologies including selfie biometrics to the Commercial Bank of Dubai (CBD). The integration enabled CBD customers to scan an Emirates ID or Passport and match it with face biometrics in less than 10 seconds. CBD said that it offered a digital account opening process that took less than a minute.

Accura Scan has already established itself as a recognized KYC Onboarding Solution provider India-Internationally. They are now aiming to have on board the biggest names in the banking, finance & telecom sector with the ID forgery and video KYC feature in the course of time.

Disclaimer: This is a company press release. No HT journalist is involved in the creation of this content.

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