New customers who decide to use the bank’s services can open their accounts in just a few minutes. The End-to-End automated digital processes enable immediate fulfillment of customers’ requests, such as a real-time account opening. This process is a part of the optichannel customer enrolment process, which gives users an option to start their registration on the web and finish on mobile or any other device of their choice. When they begin the procedure, they should follow a few steps, including ID scan & Face recognition, to successfully finish the sign-up without going to a bank.

Implementation of this solution includes several suitable options: digital signature, document storage, simple integration, and orchestration of external systems (Credit Bureau, Database of Home Affairs, etc.)  The entire process is backed up with the KYC (Know-Your-Client) and AML (Anti-Money Laundering) policies. This allows banks to meet their obligatory regulations regarding the data entirely.

Nowadays, customers who are buying goods online also expect to purchase banking products, as simple and as fast. To meet their expectations, we introduced a new, fully automated digital solution for bank customers. Keeping in mind today’s necessity for social distancing and minimized contact in branches, we launched an online loan solution that is easy, quick, and convenient. This way, we reduced the overall process length and enabled customers to request loans in just a few minutes. 

Online onboarding offers convenience for busy customers who want to open an account in your bank. So we kept the customer identification part of that process easy and straightforward. This way, banks get a simplified online customer acquisition and save time for both–themselves and their clients.

Two approaches to online KYC are typically used: video call identification and/or automated face matching. The former one consists of the video call with the Bank’s agent, who will perform customer identification during the call and allow the customer to onboard.

To go through the automated face matching, customers need to scan their ID from both sides and take a selfie to confirm their identity and liveness. After finishing these steps, the system matches the face from the scanned ID and the selfie. Upon success, the KYC is complete and they can continue with the onboarding process. This solution is convenient since it does not require visiting a branch, it can be done fast, and users do not have to worry about their data security.

With the Personal Finance Management (PFM) feature, users get a complete overview of their expenses and incomes. PFM module allows customers to categorize all their expenditures and revenues from their accounts and credit or debit cards, based on the transactions’ descriptions or the merchant categories. The categorization of the transactions can be done automatically, using the default system rules applicable to all customers or using each customer’s personal rules and manually, by changing the category.

The customers have an option to set their goals (trip to the Maldives, for example) and the bank can easily identify their digital behavior to give them the best loan offers for their dream holiday.  They can also create monthly budgets for each category to better plan and manage their expenses. This module contains a financial calendar that allows the customers to set (recurring) reminders for all their expenses and incomes. With PFM, they have full control over their cash flow and can plan their activities on the go.