SIB Swifte–Aadhaar Based Mobile Customer On-boarding with Biometric & Face Authentication. Qorus-Infosys Finacle Banking Innovation Awards 2025

SIB Swifte is a revolutionary mobile solution, developed completely in-house, enabling instant, paperless customer on-boarding through Aadhaar biometric and face authentication. Designed for staff use, it empowers doorstep banking without additional hardware, reducing account opening time from 46 minutes to just 6. Beyond on-boarding, it supports KYC updates, address changes, and other customer details modifications. With robust data security, seamless integration with Core Banking Solution (Finacle), and a scalable microservices backend, SIB Swifte delivers a quick, secure& user friendly experience. It is a cost effective innovation that has driven over ₹800 Crore in deposits, redefining how banking reaches and serves customers, anytime and anywhere. SIB Swifte is a transformative, in-house mobile solution designed to simplify and accelerate the customer on-boarding journey in a secure, efficient and scalable manner. This innovative solution is deployable on the mobile devices of our branch staff, facilitating a streamlined and hassle-free process for the opening of current and savings accounts. CONCEPT & OBJECTIVES The objective was to simplify the account opening while delivering a seamless, paperless experience that bridges physical banking and digital innovation. Traditionally, opening an account took over 45 minutes and required branch visits and paperwork. While Video KYC was definitely a step forward, we envisioned hand-holding or nudging our not so tech affinitive customers with a platform that empowers staff to on-board customers directly at their locations using just their mobile phones. SIB Swifte leverages Aadhaar based biometric authentication and utilizes UIDAI face recognition offering dual biometric modalities. This not only enhances verification speed but also reinforces data integrity and fraud prevention. STATE OF COMPETITION What distinguishes SIB SWIFTe is its remarkable cost effectiveness and flexibility. While some FinTechs may offer mobile on-boarding tols, most rely on expensive infrastructure, with limited flexibility or lack comprehensive customer servicing features. With SIB Swifte, we have distilled the account opening process to its essence, and our innovation doesn't stop there. In addition to on-boarding, SWIFTe includes features such as KYC update, dormant account activation, address modifications, and minor-to major account conversions. Thus, SWIFTe is a powerful tool designed to deliver exceptional services to both New-To-Bank and Existing-to-Bank customers. By leveraging this innovation, we have significantly improved operational efficiency and customer experience. DEPARTMENTS INVOLVED Success in bringing this innovative product to fruition is credited to the synergy of our dedicated teams within the organizational structure. Comprising three integral units, our business team who oversaw product performance, ensuring its alignment with market demands. The business solution team was charged with navigating the dynamic business landscape, introducing solutions that propel us forward. Simultaneously, our technical experts managed the core coding and technical intricacies, ensuring the seamless integration and functioning of our ground-breaking product. This collaborative effort resulted in the creation of this exceptional product within a short span of three months. RESULTS SO FAR The impact of SIB Swifte has been remarkable. It has facilitated over 3.8 lakh account openings and around 96000+ customer modifications contributing to about 800 Crore in deposits to the bank’s liability portfolio. With an average on-boarding time of just 6 minutes, the app has dramatically improved operational efficiency and customer satisfaction. Most importantly, by deploying the app securely via MDM on staff mobile phones, we eliminated hardware dependencies, reduced TAT, and introduced a sustainable, scalable and fully compliant solution that is redefining customer on-boarding in Indian Banking.