Binance Will Leverage AWS’s Cloud Technology to Improve User Experience

Binance, the leading blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume, announced that it will improve user registration, customer support, and internal automated system diagnostics and troubleshooting processes on Binance by partnering with Amazon Web Services (AWS). Working to promote progress in the blockchain field and accelerate digital transformation, Binance will integrate AWS’s blockchain technology and cloud computing services into all of Binance’s business operations.

It is of great importance that users have a smooth experience, especially in order to bring new users to the platform smoothly and solve their problems quickly. Therefore, this partnership focuses on two main areas on the trading platform: simplifying users’ KYC (Know Your Customer) processes and automatically resolving user issues with generative artificial intelligence.

At the center of these optimization efforts is a solution that seamlessly integrates AWS’s various services. Amazon Bedrock provides access to leading foundational models and a broad range of capabilities for building GenAI applications. Amazon ECS functions as an orchestration service that deploys Binance’s GenAI applications as scalable services on AWS.

The implementation of the GenAI-powered KYC process solution, which automatically fills in user information, performs Proof of Address (POA) document quality checks, and accelerates World-Check reviews, has already yielded significant results. Binance reports that it increased user information recognition rate to 95 percent, reduced optical character recognition (OCR) costs by 80 percent, increased POA approval rate by six percent in 107 countries, and reduced manual World-Check case review time by 30 percent.

Additionally, by clarifying user questions and generating high-quality answers during interactions, Amazon Bedrock achieved a five percent improvement in Bot First Call Resolution (FCR) rate in user scenarios using GenAI applications.

Compliance and Risk Management

“AWS’ comprehensive cloud services enable us to support Binance’s commitment to providing user-centric services with operational excellence and customer satisfaction,” said Rohit Wad, Binance Technology Manager. “Through integration with cloud technologies, including AWS’s generative AI capabilities, we are not only making our operations more efficient, but also setting new standards in the blockchain and cryptocurrency industry. This initiative is designed to maintain the trust of our more than 237 million global users and ensure fast-paced, “It is vital to provide uninterrupted service in a 24/7 transaction environment.”

According to the statement, Binance plans to expand AWS’s generative artificial intelligence technologies and cloud services in various areas such as customer service, compliance and risk management.

“We are excited to support Binance’s mission to deliver innovation and reliability in the digital asset space,” said Arni Raghvender, Chief Innovation Officer, AWS Cloud and AI. “All these developments demonstrate the transformative potential of generative AI in high-risk digital environments with our comprehensive cloud services. Binance, Amazon Bedrock, Amazon CloudWatch “We are pleased to continue to help Binance develop solutions that improve its operations and deliver exceptional experiences to its users around the world by leveraging services like AWS Lambda and AWS Lambda.”

AWS has been the exclusive cloud provider and sponsor of Binance Blockchain Week for the second consecutive year.