eKYC solution for digital account opening for Mainland Chinese customers Qorus-Infosys Finacle Banking Innovation Awards 2024

DBS Bank (Hong Kong) introduced the first-in-market eKYC technology for digital account opening for Mainland Chinese customers in Hong Kong in 2023. Customers are allowed to open multi-currency savings and investment accounts instantly through DBS digibank HK mobile App in Hong Kong.

The new electronic Know Your Customer (eKYC) solution is applied for identity verification. The authentication process happens in seconds, as soon as the identity document is tapped to a mobile phone, leveraging on Near Field Communication (NFC) technology.

A robust location detection technology is deployed to validate the customers’ geographic location to ensure the legitimacy of the account opening process. This is to prevent fraudsters from using manipulated location data to gain unauthorized access to the new service.

DBS is well-positioned to capture the growth of the mass affluent market in the Greater Bay Area and is committed to bringing forward innovative solutions for all our customers. We expect this newly launched solution will enhance customers’ onboarding experience, enabling them to access our wealth management services anytime.

The successful launch of the project is the team efforts across the bank including Technology, Segment, Digital team, etc. with the senior management support.