Two more banks officially deploy eKYC

24-Oct-2020 Intellasia | Nhip song Kinh te | 6:02 AM Print This Post

Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) said on October 21 that it had officially applied the online identity authentication (eKYC) feature in its operations. Specifically, instead of going to transaction points, then its customers could easily register personal information, authenticated online 24/7 (eKYC) and open an account to trade just by Sacombank Pay mobile application. Accordingly, customers had to log in to Sacombank Pay, choose ‘Authenticate Now’ in ‘Card and Account Management,’ and perform ‘Online Authentication’ by entering personal information, taking photos of identity cards, and performing facial movement to correct identity.

After completing the eKYC operation, customers immediately had a Sacombank Pay account to make payment transactions on the application with a total transaction limit of up to 100 million dong per month.

To successfully carry out the eKYC feature on Sacombank Pay, Sacombank had applied many leading advanced technologies such as Artificial Intelligence (AI), Optical Character Recognition (OCR), Face Retrieveal, Liveness Check, Face Recognition, Fraud detection.

Earlier on October 20, Southeast Asia Commercial Joint Stock Bank (SeABank) had also announced to have applied eKYC in opening accounts. At the same time, the bank also launched a new digital bank SeAMobile exclusively for SeALady women on the anniversary of the establishment of the Vietnam Women’s Union.

SeABank had been the first bank in the system to create a separate bank for women. Besides, SeAMobile was also the first digital banking application in Vietnam to provide a handy tool for users and was essential for women, Personal Financial Care. By SeAMobile, customers had a complete picture of their financial health. They were always monitored by the ‘virtual assistant’ to analyse transactions and spending according to the model of six bottles international standard and spending reminders that would match the personal budget.

The race to apply eKYC in banking attracted more and more members because of the apparent benefits that this feature brought to banks because there would be more customers signing up for a new account in a short time. On October 21, members who applied eKYC included Vietnam Prosperity Joint-Stock Commercial Bank (VPBank), Viet Capital Commercial Joint Stock Bank (Viet Capital Bank), Military Commercial Joint Stock Bank (MBMBBank), Tien Phong Commercial Joint Stock Bank (TPBank), Vietnam International Commercial Joint Stock Bank (VIB), Vietnam Maritime JointStock Commercial Bank (MSB), SeABank and Sacombank.

 

Category: Finance, Vietnam

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