Use Case

Context

• Client is a consumer credit Portuguese bank
• Client with a digital onboarding process
• Consumer credit is usually low-amount credit requests, many times created by the users due to impulse buying and asking for the credit in parallel for several institutions, so the time to answer with an OK for the credit is critical for the client to get the user

Challenge

• Client was requesting the upload of the user’s IRS document, to extract from it information used in different scopes of the credit process (scoring, risk analysis, fraud analysis, KYC)
• High percentage of user requests where the IRS document (a native PDF) was manipulated by the user asking for credit (changing remuneration values, the number of dependants, etc.)
• Objective is to automatically obtain the IRS document from an official source

BizAPIs Data Suite Platform – IRS service:

With the IRS BizAPIs service, client is able to:

• Get the IRS document directly from the Autoridade Tributária (AT) site
• Validate the data extracted from the client’s submitted document against the original information source (AT site)
• Permit a fast-track for the user, in the institution’s credit request workflow, where instead of requesting the full IRS document to be uploaded by the user, just the document key is requested.

Results

• Fraud related to the IRS document being manipulated dropped to zero
• Bad users who manipulated the IRS document are black-listed
• A better UX in the credit request workflow is possible without the need to upload the IRS document if the user just informs the document ID (better UX results in faster responses, less drop-offs and more consumer credit clients)