# Document OCR for financial product applications

Source: https://idscanly.com/fintech/
Language: en

DOCUMENT OCR FOR YOUR WORKFLOW

Prepare identity fields for payment-account and financial product applications. Compare declared information with document data before your separate risk and identity checks.

[Discuss this integration](https://idscanly.com/contact/?useCase=fintech) [Try the live demo](https://idscanly.com/live-demo/)

![Original illustration of the document workflow for Fintech](https://idscanly.com/images/use-cases/fintech-1200.webp)

Fintech

## Less retyping in a financial application

Asking applicants to type information that is already printed on a document creates another place for inconsistent names and dates. OCR can provide a draft, while your risk controls decide what additional evidence is necessary.

## Document fields for applicant comparison

Name, birth date, issuing country, document type, number, expiry and supported MRZ fields.

[Read the API documentation](https://idscanly.com/developers/)

## Financial product application examples

### Payment-account application

An applicant enters a name and uploads a supported identity document. Your application presents differing birth dates to a reviewer before any account-opening decision or specialist verification.

### Updating an existing customer file

A customer submits a replacement document. Preserve the previous approved record until staff resolve the changed number and expiry; extraction alone must not reactivate a restricted account.

## An application draft, not an account decision

1. ### Capture applicant evidence
   
   Capture the document after explaining the onboarding purpose and required checks.
2. ### Compare declared data
   
   Map extracted values to application fields and compare them with the applicant’s declared information.
3. ### Hand off to risk review
   
   Route uncertainty and mismatches to your existing risk and compliance review before account activation.

## Limit access to applicant evidence

Restrict financial application evidence to the teams that need it. Define separate retention for declined applications, customer records and regulatory evidence under your own obligations.

Do not treat readable MRZ data or a high extraction confidence as proof that a document or applicant is genuine.

[Privacy Policy](https://idscanly.com/privacy/)

## Fintech onboarding questions

Does IdScanly complete KYC or AML checks?

No. OCR is one data-input component. Document authenticity, sanctions screening, identity proofing, liveness and regulatory approval require separate capabilities and controls.

Does reading the expiry reject an application?

No. Your policy evaluates the date, document type and exceptions; unresolved cases go to review.

Can the output trigger sanctions clearance?

No. Screening and identity proofing require separate systems and a documented financial-risk process.

Should OCR overwrite the applicant's declaration?

No. Keep the declared and extracted values distinguishable so reviewers can explain and resolve differences.

Fintech

## Discuss this integration

[Discuss this integration](https://idscanly.com/contact/?useCase=fintech)

## Related use cases

[Hotels & hospitality](https://idscanly.com/hospitality/) [Car & mobility rental](https://idscanly.com/car-rental/) [Property rental](https://idscanly.com/property-rental/) [KYC & onboarding](https://idscanly.com/kyc-onboarding/) [Access control](https://idscanly.com/access-control/)