eKYC could become a double-edged sword if businesses are not careful

eKYC – A Double-Edged Sword That Businesses May Not Foresee

In recent years, the application of eKYC in customer identification processes has become a trend among many financial institutions and banks due to its remarkable benefits. Not only does it help businesses improve service quality and customer experience, but electronic identification (eKYC) also helps reduce risks of impersonation, saves costs, and enhances human resource quality. However, there have been several cases where companies applying eKYC faced “laugh-or-cry” situations, leading many customers to question, “Do the technologies these businesses use really provide a good experience for us?” 

 Ms. N.T.T shared: “When opening a bank account online, I was asked to take a photo of my ID card, which I had to retake 2 to 3 times, yet the system kept asking me to do it again. It was too complicated and time-consuming, so I gave up.” Mr. D.N shared: “Opening an online account sounds convenient and fast, but in reality, I didn’t find it that way. I repeatedly encountered issues during the process. I called customer service, but the slow response made me lose patience and I didn’t proceed with the next steps.” The main reason behind these problems is the use of low-quality eKYC solutions. Common signs of poor eKYC solutions include: – Unstable OCR quality; – Irresponsible technical support in resolving user issues; – Lack of countermeasures against forgery (fake documents, etc.); – Inexperienced implementation teams. These flaws are directly eroding customer trust and creating barriers for technical teams to fulfill their responsibilities.

What Is a High-Quality eKYC Solution on the Market?

Currently, there are many domestic and international eKYC solution providers. However, the solution most trusted and chosen by businesses is SmartKYC by GMO-Z.com RUNSYSTEM. GMO-Z.com RUNSYSTEM is a leading provider of eKYC solutions in Vietnam for the financial and banking sectors, thanks to its integration of advanced technologies tailored for eKYC procedures such as account opening, money transfers, and loan applications for individuals and enterprises. GMO is well-known for product quality and 24/7 customer support—factors that are frequently mentioned by clients. 

 SmartKYC by GMO currently offers outstanding features compared to other eKYC solution providers on the market by improving customer experience through capabilities such as: – OCR for ID documents, business registration certificates, financial statements, etc. with up to 99% accuracy; – Detection of nearly 30 types of document and facial forgeries; – Anti-spoofing for masks, printed photos, and videos; – Customizable and easily integrable into business workflows; – Algorithm updates every 6 months (with a clear schedule); – 24/7 technical support (including weekends and holidays). GMO-Z.com RUNSYSTEM is currently offering a “2-month free trial of SmartKYC”. For more information, please contact: Website: https://ssolutions.vn/ Hotline: 097 583 0096