Digital Customer Onboarding (eKYC)

Jane is a 22-year-old fresh graduate starting her first full-time job. Even though she was not academically-trained in an IT-related discipline, she has been very familiar and comfortable with mobile-first service providers – ranging from online shopping, to ride hailing and food delivery. She’s also very comfortable with self-service; and in-fact, prefers to self-serve from the comfort of her couch than to travel out.

On that day, Jane came across a video ad on social media promoting the payroll savings account which promises a higher interest rate return, and it comes with a virtual payment card account that works as a mobile wallet.

After reading through some online reviews, she is convinced that this is the payroll banking account designed for her needs and lifestyle. Signing-up was easy.

Are you really Jane?

Instead of locating the nearest branch, she installed the Bank’s e-banking app, and tapped on the “Register New Account” button. The app suggested Jane to get ready with two identity documents (ID).

She pointed her phone camera to her primary ID card, and her personal identification details shown on the card were automatically pre-filled into the app in less than 2 seconds. She then scanned her second ID – a passport, to strengthen her proof-of-ID scoring.

Subsequently, the front camera was launched by the app, and she was advised to nod down her head to verify that she was indeed, a live person. The app immediately matched Jane’s live face photo against her ID photo to prevent impersonation fraud.

Welcome, Jane!

Once verified, Jane proceeded to complete some further information required for onboarding. Without her realizing, the Bank performed automated inspection on Jane’s ID cards scanned from the app, and checked her ID against the AML/CFT database to ensure compliance with stringent regulatory requirements.

In 10 minutes, Jane’s new savings account was successfully created, and ready to receive her first salary! If she had to locate the nearest traditional branch, take a number and go through the queueing system to be served, she may not have chosen to start her relationship with this Bank that she “met” through a video ad.

The digital banking journey begins from customer onboarding

To the Bank, it has successfully acquired a new customer through a fully-digital channel at the much lower acquisition cost. Most importantly, the Bank is also appealing to a new segment of customers who are digitally-savvy without expansion in capital and operating expenditures associated to new-branch opening.

Create your own customer onboarding journey

eKYC in Action

Yoodo is a mobile network operator brand in Malaysia owned by Celcom Axiata. Yoodo operates as a fully-digital telco with zero branch and zero sales partner, targeting at the digitally-savvy customer segment with fully customizable mobile plans.

To operate without traditional sales channel, Yoodo’s customer onboarding process is also fully automated with what digital innovation has to offer. SIM pack is ordered through self-service mobile app, and SIM activation is performed with eKYC technology to meet Regulator’s guidelines – ID capture using real-time OCR (optical character recognition), and remote facial verification using liveness detection and facial recognition API provided by Innov8tif.

Besides Yoodo, Innov8tif is also behind redONE’s paperless sales platform, digital SIM registration of some major telecommunication companies, as well as customer onboarding of financial services and fintech products.