Bank Syariah Indonesia develops dynamic online onboarding through KYC biometrics

It simplified the previous onboarding process which used the face-to-face method.

The digital era has seen a shift in people’s habits when it comes to financial activities. As a result of technological advancements, customers can now go digital-native, which provides them with engagement-enhancing services including payments, credit, financial advice, wealth management, and digital finance.

Moreover, customers now want a fast, intuitive, secure, hassle-free, satisfying, and fun experience, as they are accustomed to all the benefits provided by application-based platforms that can meet a variety of needs and activities. Therefore, they expect the online onboarding process to be very smooth and not have to leave their residence or work location to meet their needs.

Bank Syariah Indonesia (BSI) understands this challenge and has developed a more dynamic Online Onboarding via Know Your Customer (KYC) biometrics method to address these.

The online onboarding process flow starts with the downloading of the app, then selecting the product or account type, uploading the supporting documents, customers accepting the terms and conditions, and verifying their profile with a facial photo. To successfully apply this more automated process, BSI has also implemented risk management such as cybersecurity implementation.

Online Onboarding via KYC biometrics has increased time efficiency to around five minutes per customer, has no need for a face-to-face process with the bank officer when opening an account, and has the entire process carried out entirely through BSI mobile.

In addition, it does not require a savings book because it has been replaced with an e-statement, and debit cards can be sent directly to the customer's address. This method is also a more environmentally friendly way because it reduces the use of paper to print saving books and CO2 emissions because customers do not need to go to the branch office anymore.

The number of registered users and active users in 2022 was 4,805,020 and 2,375,063 respectively, which experienced an increase of 39.04% for registered users and 38.70% for active users compared to 2021. 

This feat was lauded by the Asian Experience Awards 2023, as the bank wins the Indonesia Customer Experience of the Year - Banking category. The prestigious awards programme seeks to recognise the enterprising initiatives of companies that delivered meaningful brand experiences to their stakeholders.

The Asian Experience Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for providing meaningful brand experiences to stakeholders, please contact Jane Patiag at [email protected].