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Market
Will Binance's KYC auto-fill reduce OCR costs by 80% by June 30, 2025?
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Story
Binance Partners with AWS to Enhance User Experience with GenAI and KYC Auto-Fill
Oct 31, 2024, 12:39 PM
Binance, the world's largest cryptocurrency exchange by trading volume, has partnered with Amazon Web Services (AWS) to deploy a new cloud-based AI solution. This collaboration aims to enhance the user experience on Binance through the integration of generative AI (GenAI). Key innovations include KYC auto-fill, which cuts OCR costs by 80%, and a GenAI-powered chatbot. The partnership leverages tools like Amazon Bedrock to improve operational efficiency and achieve a 5% better first-call resolution rate, along with a 6% increase in proof of address approvals. The AWS integration brings user-centric innovation and streamlined user flows to Binance.
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