Quick Account-Opening Apps Qorus Banking Innovation Awards 2013

After having released our original “Jibun Bank App” in 2010, we have been adding various functions continuously. The recent innovation include “e-money charge and balance check”, “Foreign currency deposit / Structured deposit”, “Phone Number Transfer”, and “Quick Account-Opening”. Now, all the transactions can be conducted with our application, in addition to the menus like balance and account details, money transfer. In particular, “Quick Account-Opening App” was launched for customer acquisition in December, 2012. Customer convenience improved immensely with the introduction of Quick Account Opening App. A new customer needs to enter very limited personal information for account opening since integral part, such as name and address, can be scanned from Driver’s License. The personal information on Driver’s License can be captured with OCR function on the dedicated application by taking a photo of Driver’s License with smart-phone camera, so that the applicant does not need to enter all the details. And since application process for a new account can be completed just with Smart phone, there is no need to mail any personal identification form. As a result, the waiting period of the new applicants has been shortened by a week or so. After the release of this App, it has become a standard method to open account and the number of applicants has increased by 20% in Q1 of 2013 with the significant improvement in conversion rate.