Starting from June 2022, Thiên Việt Securities (TVS) has begun to apply SmartKYC from GMO-Z.com RUNSYSTEM to open securities accounts to optimize customer experience and limit fraudulent and impersonation behaviors.
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.
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 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.