Sikoia is a unified data platform that automates customer verification for financial services by aggregating data from various digital and document-based sources, enabling instant validation of income, employment, and affordability. This technology eliminates the inefficiencies of manual data reconciliation, significantly reducing processing time and enhancing the customer experience in lending decisions.
Funding
$8.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
MEFounders
Product
Problem
Financial institutions face challenges in efficiently verifying customer data due to unstructured information scattered across various documents and disconnected sources. Manual data reconciliation is time-consuming, prone to errors, and can lead to delays in customer onboarding and increased operational costs.
Solution
Sikoia offers a SaaS platform that automates customer verification for financial services by aggregating data from diverse digital and document-based sources. The platform uses AI-powered document processing, affordability insights derived from open banking and bank statements, and income/employment verification via payslip, tax, and bank statement analysis. Sikoia's customer evaluation dashboard provides a central hub to enrich and verify customer data, while its KYB/C decisioning engine allows tailoring to specific approval criteria. The platform also includes AI-powered AML screening for PEPs & sanctions and adverse media.
Target Audience
Sikoia targets financial services providers, including mortgage lenders, consumer finance companies, business payment platforms, SME lenders, tenant referencing services, and other regulated businesses.
Features
- AI-powered document processing for instant verification of customer-supplied information
- Automated affordability insights using open banking and bank statements
- Automated income and employment verification through payslip, tax, and bank statement checks
- Customer evaluation dashboard providing a central hub for data enrichment and verification
- KYB/C decisioning engine to tailor approval criteria
- AI-powered AML screening for PEPs & sanctions and adverse media
- Ready-to-go verification dashboard for business users
- API integration for developers to reduce manual entry in existing systems
- Integrated data marketplace providing access to open banking, credit bureaus, and identity verification services