ABBYY, a document and process intelligence solutions firm, and IBM have strengthened their partnership to transform KYC automation for financial services and insurance firms.
The collaboration addresses the growing demand for precision, auditability, and operational agility in regulated sectors. By integrating ABBYY’s Document AI and Process AI with IBM watsonx.ai Orchestrate’s AI agents, the partnership aims to deliver a compliance-first solution that streamlines onboarding, reduces risk, and ensures full regulatory traceability.
ABBYY specialises in intelligent document processing, enabling organisations to extract structured data from a variety of documents, even those with inconsistent formats or low-quality scans. IBM, through its watsonx.ai Orchestrate platform, offers AI-driven workflow automation that coordinates tasks across complex enterprise systems, ensuring speed, accuracy, and transparency.
The new joint solution transforms traditional KYC processes—which have long been slow, error-prone, and fragmented—into an end-to-end orchestrated workflow. Financial institutions and insurers can now automatically capture, validate, and route data across compliance systems, while ABBYY Process Intelligence continuously monitors operations for risks or exceptions. Every step is auditable, helping compliance teams remain ready for internal and external reviews.
Key benefits include faster onboarding, improved audit readiness, reduced compliance risk, and lower operational costs. The partnership also supports enterprise-scale growth, enabling institutions to manage higher onboarding volumes without compromising oversight or regulatory standards.
In real-world use cases, such as global insurers onboarding policyholders across multiple jurisdictions, the solution captures identity documents, validates details, monitors workflows, and flags missing information or risk alerts in real time—ensuring both customer satisfaction and regulatory compliance.
ABBYY and IBM said the integration marks a new standard for KYC automation in financial services and insurance, helping firms shift from reactive compliance practices to proactive risk management.
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