Banco Galicia is one of Argentina’s leading private banks, with 5,400 employees serving 3 million personal banking customers and 150,000 businesses of all sizes and across all sectors. Its services span everything from financing to billing and payments and even investment. It also has foreign trade products for customers who operate abroad. A traditional bank, Banco Galicia is a leader in technology innovation.

Banco Galicia’s Official Acceptance of Credentials (OAC) process determines whether a corporate client can perform financial transactions with the bank. The process, part of the critical ‘Know Your Customer’ (KYC) model, took up to 20 days to complete – considerably slower than the competition.The legal, financial, and economic documentation was unstructured and contained a lot of human language; it had to be processed, analyzed, and verified manually by different teams. 

The bank wanted to become the most responsive bank in its financial market and the fastest to verify corporate clients. As a first step toward what is known as ‘Bank 4.0’, the bank set itself a goal of reducing verification time to one week. A new project sought to reduce the number of days for OAC processes so new corporate customers could access the bank’s services faster.