Sikoia has entered into a strategic partnership with Y3S, a specialist loan brokerage, with the objective of enhancing the efficiency of customer verification processes that are vital for both brokers and borrowers. This collaboration is particularly focused on the integration of Sikoia’s advanced technology, which is set to streamline critical tasks such as biometric identity verification (IDV) and anti-money laundering (AML) checks. Additionally, it will automate the processing of essential mortgage application documents, thereby modernising the approach to credit assessments within the financial services sector.
By employing Sikoia's AI-powered Document Processing Solution, Y3S aims to significantly reduce the time and effort associated with managing customer documents. The new system allows brokers to swiftly extract verified information pertaining to affordability, income, and risk indicators directly from bank statements, payslips, and tax returns, a process that can now be completed in a matter of minutes.
Barney Drake, CEO of Y3S, emphasised the importance of this partnership, stating, “At Y3S, safeguarding our brokers and their clients is a top priority. Our partnership with Sikoia demonstrates our dedication to staying ahead of the curve in fraud prevention and compliance, giving brokers greater confidence in the solutions we offer. This partnership aligns with Y3S’s mission to provide exceptional service while upholding trust and transparency in the specialist finance industry.”
On the other hand, Alexis Rog, founder and CEO of Sikoia, expressed excitement regarding the collaboration, highlighting its significance in transforming existing practices. He remarked, “Verifying a customer’s identity, income, and documents has traditionally been a manual process, which can be time-consuming and prone to errors. Our technology not only speeds up this process but also ensures greater accuracy and reliability. With this integration, Y3S will be able to offer an even more efficient and seamless experience to their brokers and clients.”
The developments surrounding this partnership not only showcase the growing trend of AI automation within financial services but also reflect a wider industry shift towards incorporating innovative technologies that enhance operational efficiency and improve customer experience. As businesses continue to seek effective solutions to meet compliance and verification demands, partnerships such as that between Sikoia and Y3S underline the importance of embracing advanced technological capabilities in a competitive landscape.
Source: Noah Wire Services