Development of a Secure Digital Customer Onboarding and eKYC Platform

The client faces the need to streamline remote customer onboarding processes while ensuring high verification reliability, regulatory compliance, and security within tight market deployment timelines. Existing manual verification methods are increasingly inadequate for meeting customer expectations and scaling operations efficiently.

A mid to large-sized cooperative financial institution seeking to enhance its remote banking capabilities through a comprehensive digital onboarding solution.

• Enable fast, reliable, and compliant online customer onboarding to support remote banking services.
• Increase customer adoption of digital onboarding, aiming for a significant percentage of new accounts being verified via self-authentication methods.
• Reduce onboarding time to less than 15 minutes per customer to improve user experience and operational efficiency.
• Support multiple verification sources such as biometrics, identity documents, liveness checks, and database cross-referencing.
• Implement a flexible, expandable architecture to adapt to future regulatory or technological changes.

• Automatic biometric verification utilizing biometric authentication technologies.
• Document verification supporting advanced OCR to extract data and validate identity documents' correctness, integrity, and authenticity.
• Liveness detection to prevent spoofing during identity verification.
• Multi-source data verification, including database checks and cross-referencing with external information sources.
• Configurable decision engine for automated approval or manual review workflows.
• Streamlined process: approximately 9 steps for account setup and 4 steps for identity confirmation, completing within 15 minutes.
• Secure access to verification results and user data via mobile platforms, including display of check details, document images, and read data.
• Support for handling multiple types of transaction requests such as account opening, credit card application, document signing, and app activation.

• External biometric verification systems for biometric matching.
• Identity document verification providers supporting OCR and authenticity checks.
• Database systems for cross-referencing customer data.
• Core banking or financial systems to automate account creation, transactions, and customer profile updates.

• High success rate of user identity verifications (>95%).
• System availability of 99.9% uptime to ensure reliable access.
• Process completion time not exceeding 15 minutes per customer.
• Compliance with applicable financial industry regulations and data protection standards.
• Ability to handle scale supporting thousands of verifications per day.

The deployment of the integrated digital onboarding and eKYC solution is expected to significantly accelerate customer onboarding, with over 80% of remote loan applications and new accounts authenticated via self-service modules. This will reduce onboarding time, improve customer experience, and support a projected ROI within approximately three years. Additionally, the system will enhance verification accuracy and compliance, strengthening the institution’s market position as a modern, digitally accessible bank.