Results
• Deploy in one hour: The cost-effective
and highly accurate Amazon Textract was
successfully rolled out to Paytm users in a
single hour
• Automate data extraction: Digitalizing
the user KYC process opened new avenues
for Paytm to automate data extraction
• Deliver cost savings: Developing its own
extraction solution (with Amazon Textract)
helped Paytm achieve cost savings of up to
75 percent
•
"We've seen immediate success
with our use of Amazon Textract.
Our goal is to also develop further
capabilities in our tech solution
by adding facial recognition and
other machine learning capabilities
on OCR problems, and gradually
replace existing third-party software
with AWS solutions."
Manoj Kumar, SVP & Head of Data Platform,
Paytm
Onboarding new users in minutes with
machine learning-based data extraction
Founded in 2010, Paytm is the consumer brand of India's leading mobile internet
company, One97 Communications. As one of the largest financial services companies,
Paytm offers full-stack payments and financial solutions to consumers, offline
merchants, and online platforms.
Opportunity
The fast-moving Paytm, already India's largest digital payments, commerce, and
financial services platform, was looking to modernize its labor-intensive onboarding
process that includes Know Your Customer (KYC). Since deploying Amazon Textract,
Paytm has successfully identified necessary user data from complex identity documents
with 97 percent accuracy. Once data is captured, the system helps to detect image
noise in real time, allowing Paytm representatives to immediately notify onsite agents
to retake users' identity document pictures—saving both parties the inconvenience of
repeat visits.
Solution
Before adopting Amazon Textract, Paytm's KYC agents collected user identification
details in person, recorded data manually, and routinely returned to verify data
captured in the first instance. The manual process was not only time-consuming but
also prone to mistakes. Amazon Textract uses an innovative ML-based form of optical
character recognition (OCR) to extract text and organize data from a variety of identity
document types. Paytm thereby eliminates manual data entry, significantly minimizing
human error and reducing the time to authenticate users from days to minutes.
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