Opening Selfie Accounts
Client
A large financial institution operating in the banking industry (top 5 banks in Poland) expecting to improve the security of the account opening process
Expectations
The client expected increased security in the basic banking process, i.e. opening accounts. Many processes are carried out remotely, without the possibility to verify the owner physically. Therefore the customer's expectation was to verify the data from the document identifying the customer with a 'selfie' photo taken during the process.
Project
The expectations for the remote account opening process—as well as the number of stakeholders involved—are immense. On one hand, the product and digital banking departments emphasize maximum process simplification, as it directly affects conversion rates. On the other side are the risk, compliance, and security departments, responsible for the bank's safety and stability. And in the middle are the clients, who expect innovation and simplicity—but also security. This was exactly the challenge our project team faced. The proposed solution using the 'Selfie' feature turned out to be the expected response to both the bank’s and clients’ needs. Moreover, the project team’s experience enabled the seamless integration of the Selfie component into the bank’s environment as well as the account opening process.
Results
After the implementation, customers began to massively use the new functionality, which significantly improved process security while maintaining the level of customer experience. The introduction of this formula also allowed for a departure from signing the contract with the use of couriers, which significantly shortened the length of the process.
Info
Sector
Retail
Service
Automation
of business processes
Technologies
Java, JavaScript, BPM
Key figures
30 min.
time from application to opening account
30%
Applications submitted through the remote channel use "selfie"
8
departments involved in the process
+100
Integration services in the account opening process
+10
integrated systems
5
service access channels
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