eKYC accounts bring many outstanding features in optimizing transaction processes of the financial and banking industry, thereby promoting business development in business activities. How to open an eKYC account? Read now!
What is an eKYC account?
eKYC - Electronic Know Your Customer is a form of customer identity verification using modern technology and based on collected data such as identity document images, facial recognition, and digital signatures.
eKYC account helps verify identity quickly
eKYC accounts are created based on the customer's digital identification information. With the convenience that eKYC accounts bring, you can completely open an eKYC account online without having to go to the transaction office.
5 technological features that make up eKYC
With the aim of providing effective eKYC solutions for transaction activities, banks have applied many advanced technological features to eKYC such as:
- Face Matching: Support banks to compare the face of the transactor in video and photo with the face on the identification document.
- Fraud Detection: Support banks in detecting fraudulent behaviors such as using printed photos, fake photos, composite photos, etc. for fraudulent purposes when performing identity verification.
- E-Signature: Customers can electronically sign contracts and related documents when opening an account or using other bank services.
- Liveness Detection: Support detecting customers using still images, pre-recorded videos, masks,...
- OCR: This feature will extract information from the customer's identification documents such as CCCD number, full name, date of birth, etc. for the purpose of comparing with available data.
eKYC helps banks detect fraud quickly
The combination of 5 advanced technology features into eKYC makes the transaction process safer and more convenient. In addition, eKYC helps customers adapt promptly to digital transformation in the banking sector.
Advantages and disadvantages of eKYC
Advantage
- Optimize time and cost: Customers can do it at home or anywhere with an internet connection without having to travel to the bank headquarters to perform traditional identity verification.
- Minimize procedures and paperwork: eKYC can verify most information automatically, without requiring customers to fill in information on the form as before identification. This creates convenience for customers, reducing the possibility of making mistakes compared to manually filling in information.
- High security: eKYC supports fast and effective identity authentication, anti-fraud, respects customer privacy by applying the most advanced technologies today such as OCR, liveness detection, face matching,... Meanwhile, traditional KYC only provides security based on document comparison such as CCCD/ID card.
- Catch up with the trend: Customers can use digital banking services safely and conveniently with the internet.
The outstanding advantage of eKYC is to minimize paper procedures.
Disadvantages
- Vulnerable to impersonation: When personal information (account name, phone number, ID card, etc.) is stolen due to customers accessing dark web or links containing malicious code, criminals will use the information to log into Internet Banking and then make illegal money transfers.
- Risk of system stability: eKYC operation is closely linked to internet connection. If the internet is unstable, the process of using eKYC will encounter many difficulties when accessing and downloading data to identify customers.
What applications does eKYC have in the banking and finance industry?
eKYC is widely applied in all fields and especially in the banking sector with some activities such as:
Open a bank account
- Customers can proactively open a SeABank business account online without wasting time traveling to a bank branch.
- Simple account opening procedure.
- Increase the rate of successful account opening registration.
Verify identity
- When making online transactions such as payments, money transfers, etc., eKYC will support customer identity verification.
- Enhance security and safety for all business transactions.
- Minimize the risk of fraud and scams when trading.
Providing banking services
- Banks will use eKYC when verifying customer identity in the case of providing online customer care and services.
- Improve quality, increase customer satisfaction.
Used in administrative procedures
- eKYC helps simplify administrative procedures such as locking/unlocking accounts, changing information,...
- Minimize paper storage.
Stepsopen eKYC account online
With the aim of optimizing the process and protecting transaction safety, many banking organizations have quickly applied the form of opening eKYC accounts online. Not staying out of the "game", SeABank is also one of the names on this list. Please refer to the online eKYC account opening at SeABank now!
Instructions for opening an eKYC account
Conditions and document preparation
The profile must be stored in the device used for registration:
- Certificate of Business Registration/Business Registration Certificate.
- Authorization papers of the Legal Representative.
- Decision to appoint Chief Accountant.
- Identification documents of the legal representative as required by the bank.
- Identification documents of the Chief Accountant/person in charge of accounting.
Device requirements:
- The device has the Digital Signing Plugin installed.
- Use Firefox version 88.0 or higher or Chrome browser version 89.0 or higher.
Document quality requirements:
- File size up to 10 MB.
- Clear signature file and PDF format.
eKYC online account opening process
To serve the needs of customers, SeABank provides online account opening service for corporate customers who do not have a bank account at SeABank. You can open an account in the following 4 steps:
- Step 1: Go to Business menu > Open a business account online on the SeABank website.
- Step 2: Customers declare information and upload scanned copies of documents to the system.
- Step 3: Customers use digital signatures and sign confirmation in the posted profile and service registration form.
- Step 4: The bank will review the application and then notify the business of the account opening results via SMS/Email.
In addition, customers can also watch the video tutorial on how to open a SeABank eKYC account here.
Conclusion
eKYC has become an important trend for all banks and financial institutions. Understanding that, SeABank always improves the security and safety for customers using this service. Hopefully, this article has helped you better understand what an eKYC account is and how to open an eKYC account. Call the hotline 1900.599.952 now for more information about eKYC at SeABank!
