CUSTOMER STORIES | SEEDBLINK
How SeedBlink Streamlined Passport Processing for KYC
Learn how SeedBlink (formerly Symbid) automates passport processing and ensures KYC compliance. A talk with the IT department.
About SeedBlink
SeedBlink is a leading European investment platform that helps startups raise capital through various means, including crowdfunding. With a focus on empowering entrepreneurs, SeedBlink makes it easier for investors and startups to connect, while ensuring compliance with legal and regulatory requirements.
The Challenge: Managing a Growing Volume of KYC Data
As SeedBlink carried out a major funding campaign for a healthcare institution, the volume of identity verification documents, especially passports, became overwhelming. The manual process of collecting, verifying, and storing sensitive data for Know Your Customer (KYC) compliance was not only time-consuming but also prone to errors. SeedBlink needed a faster, more reliable way to handle the increasing administrative workload.
The Solution: Automating Passport Processing with Klippa
To address these challenges, SeedBlink turned to Klippa for an automated solution. By integrating Klippa’s OCR API into their back-office platform, SeedBlink automated the extraction of passport data. This integration allowed passports to be processed in the same workflow, but now with data automatically extracted and returned within seconds—drastically reducing the time spent on manual data entry.
While the final check remains manual for compliance purposes, the automation of the data entry process freed up valuable time for the team and greatly improved efficiency. Klippa’s system also ensured that no sensitive data was stored, providing peace of mind regarding privacy and security, as all input and output data were immediately deleted.
Why Klippa Was Chosen
SeedBlink specifically chose Klippa for its easy integration and RESTful API, which provided an immediate solution for handling KYC documents. Klippa’s commitment to data privacy, with clear statements on not storing any data, was also a deciding factor, ensuring compliance with legal requirements when dealing with sensitive information like passports.
“Klippa’s solution was exactly what we needed to scale our KYC processes without compromising on speed or security. It’s made our funding campaigns run more smoothly and efficiently.”
The Benefits for SeedBlink
80% Reduction in Document Processing Time
The automated system cut down the time spent on processing passports, making the workflow faster and more efficient.
Enhanced Compliance and Security
The system ensures that sensitive data is processed in compliance with privacy laws, without storing any personal information.
Improved Client Experience
With faster processing, SeedBlink was able to manage large funding campaigns without delays, enhancing customer satisfaction.
Operational Cost Savings
The automation of the data entry process reduced labor costs and allowed the team to focus on higher-value tasks.