The solution removes customers' needs for a physical visit to a bank by providing virtual customer onboarding processes and a service platform which improves customer experience and overall efficiency while providing enhanced security and personal data protection.

1. Digital customer onboarding
Geographically
inconvenient
Resource
intensive
Identifying fraud
and security risks
Need for physical
offices for operators
and customer services
Limited customer
outreach and
engagement
Call center
functions
Proprietary
customer
identification
software
PSD2 and
data
protection
regulation
(DPR)
ready
Video-based
customer
service
Supervised
recording
Enhanced
security
certificate
and
signature
Leading-edge tech capabilities
Virtual customer onboarding and service platform
Onboarding challenges faced
by financial institutions
Case study
Time-consuming
process leading to
poor customer
experience
WebRTC open-
source
technology
Proprietary
closed-circle
video system
Optical
character
recognition
identification
Chatbots
Context:
An insurance firm was seeking to improve their
customer service and sales operations via the use
of a digital tool. Instead of relying on traditional
physical customer service offices, they were
looking to implement a virtual customer service
office where all operations will be conducted
online. This was in line with their strategy to
digitalize traditional processes to maximize
productivity and utility of resources while
improving the quality of customer service.
Recommended configuration: This included the
creation of a video-based customer service
platform that is built into the bank’s and local
authorities’ existing online server infrastructure.
This platform included built-in features, such as:
• Online video customer service where the
bank’s customers were able to virtually
arrange and complete all administrative
tasks that were previously done by visiting a
physical branch office.
• It facilitated customer identification
(compliant to Hungarian and European Anti-
Money Laundering Act).
• Electronic signature infrastructure that
enabled the bank to issue their own
enhanced security certificates to customers
in compliance with the electronic
identification, authentication and trust
services (eIDAS) (Europe regulation).
Benefits of digital customer onboarding platform
Enhanced user
experience
Scalable and improved
back-end operations
Secure and private
verification
Fast transformation and
integration (eight weeks)1
3
2
4
5 Accessible through customers mobile devices’ browser,
while removing the need to download third-party apps
Client impact:
• Removed the need for bank’s customers to
physically visit a branch office
• Improved sticky customer experience
• Customer support efficiency improved by
250%
Varun Mittal
Global Emerging Markets
FinTech lead
varun.mittal@sg.ey.com
Contact us
FinTech Hub
www.ey.com/sg/FinTechHub