The eKYC (electronic Know Your Customer) developed by Vietnam Prosperity Commercial Joint Stock Bank (VPBank) allows the bank to overcome all geographic barriers and time to identify customers 100 percent online based on biometrics without face-to-face meetings.
With this breakthrough, VPBank is the first bank in Vietnam that allows customers to open online payment accounts 100 percent online to make instant transactions without waiting, and have the opportunity to experience digital services of VPBank such as bank transfer, bill payment, e-wallet linkage, service top-up, etc. with a maximum limit of deposit of 10 million dong per day, which will expire when the total limit of deposits reaches 300 million dong.
It only takes the customer a few minutes to register and authenticate at https://taikhoan.vpbank.com.vn. He then will immediately be provided with payment account and internet banking, and can use immediately without the need to going to the bank.
To create this smooth customer experience, Digital Factory of VPBank has built a comprehensive biometrics platform, combined with artificial intelligence (AI) technology and eSignature. These technological advances will be applied to more products in the future such as credit card sales and lending processes.
The eKYC solution has the potential to optimise operating costs for the bank, and more importantly, will create a driving force for new customer growth, unlocking the creativity and competitiveness of the entire banking industry.
