Thien Viet Securities Joint Stock Company (TVS) is a rapidly developing investment bank that provides comprehensive services to customers in Vietnam. To become the leading investment bank in Vietnam and build a complete financial platform to meet customers' needs best, TVS constantly researches and seeks optimal technology solutions for business operations while providing the best experience for customers.

Thien Viet Securities' Problem
    
In recent years, the stock market has experienced strong growth, leading to increased demand for stock account opening. However, with the outbreak of COVID, opening a stock account at customer service desks has become extremely difficult. For this reason, in 2021, the wave of opening bank and stock accounts through electronic identification emerged as a superior solution to solve all the obstacles in this issue. About 90% of securities companies have allowed customers to identify and open accounts quickly within a few minutes using eKYC. Opening an account through eKYC is a competitive advantage for businesses during the pandemic. However, at the current time, when the pandemic stopped, opening an account through eKYC is no longer an advantage but rather is considered a mandatory standard in all financial and banking organizations. Recognizing the changes in market trends and demands, since the end of 2021, Thiên Việt Securities has also begun searching for electronic identification (eKYC) solution providers with the expectation of digitizing the account opening process, providing the best experience for users while still ensuring quality and service processes for customers at TVS even when the number of account opening requests increase. Of the many eKYC solution providers in Vietnam, TVS has trusted and chosen GMO's SmartKYC solution to apply to the company's stock account opening process.

SmartKYC – Electronic Customer Identification Solution

SmartKYC is considered the leading eKYC solution in Vietnam

SmartKYC is an electronic customer identification solution researched and developed by GMO-Z.com RUNSYSTEM based on artificial intelligence (AI) technology. SmartKYC possesses outstanding features such as 99% accurate OCR capability, up to 30 fraud detection signs, and the ability to resist masks, photos, and videos. As technology develops, the risk of fraud and deception increases, aiming to deceive the technology's all-seeing eye. However, despite the countless ways of document forgery and fraudulent behavior, SmartKYC can effectively block them all.

The Video Call feature of SmartKYC meets the anti-fraud standards and limits fraudulent behaviors.

With the SmartKYC application, TVS will give users a quick and convenient way to open an account while minimizing fraudulent and fake activities. Now, instead of going to a transaction office or submitting an online account opening request and waiting for approval, customers can open a TVS securities account right at home and anytime within 5 minutes. SmartKYC optimizes the customer experience and helps optimize business operations, saving costs and improving TVS' work efficiency.  

PG Bank and the problem of applying technology to upgrade service processes

Petrolimex Petroleum Commercial Joint Stock Bank (PG Bank) is one of the banks that has made great progress in both scale and efficiency in recent years in Vietnam. With the goal of becoming a leading multi-purpose commercial bank, PG Bank is always aware of the crucial importance of applying technology platforms in business operations and processes at the Bank. Therefore, in recent years, PG Bank has continuously launched many online banking services and mobile banking applications, allowing customers to perform most transactions on digital platforms. … In particular, the outbreak of the epidemic has become a catalyst to promote the wave of technology application for digital transformation in the Finance - Banking industry in general as well as for PG Bank in particular. Prominent among them is the trend of opening accounts and identifying customers online.

PG Bank's orientation "Digital Transformation - Applying technology to change lives"

Acumen in recognizing changes in market demand

The emergence of the disease has revealed the remaining limitations in the traditional identification process. Therefore, the electronic identification (eKYC) with anti-counterfeiting ability, accurate identification, and quick implementation is considered as a bright spot and a competitive advantage that helps the Bank change the entire market landscape. Early recognizing the change in consumer demand and market trends, from the beginning of 2021, PG Bank has started planning to search and select providers of electronic customer identification (eKYC) solutions.) with the strategy of creating a competitive advantage for the Bank by providing a better customer experience.

SmartKYC identifies customers quickly, accurately, “stops” all fake acts

Among the eKYC solution providers in the market, PG Bank has trusted and chosen SmartKYC of GMO-Z.com RUNSYSTEM to implement the project of building an online bank account opening process flow. SmartKYC electronic identification solution is a product researched and developed by GMO-Z.com RUNSYSTEM based on artificial intelligence (AI). SmartKYC owns outstanding features like:

• Character recognition (OCR) technology with printable, tag line accuracy up to 99%

• Fraud Check technology, warn up to 30 signs of fake personal documents

• Liveness technology has the ability to resist 2D masks, photos, videos…helps the Bank eliminate fraud and profiteering.

• Face Matching technology compares the matching rate of faces with identification documents, provides superior facial recognition with a time range of up to 15 years.

Face Matching technology compares face to document matching ratio  

SmartKYC application, PG Bank will provide customers with a quick, convenient and safe way to open an account. Instead of having to go to a transaction office or submit an online account opening request and spend time waiting for the approval request, customers can open a bank account at home and at any time within 1 minute. . Not only optimizing the customer experience, SmartKYC also helps optimize the operation process