Customers Save At Least 70% Time Using Innovatrics Digital Onboarding

9/24/2018

Innovatrics’ Digital Onboarding Toolkit (DOT) is making waves in digital banking as it has been implemented by Raiffeisen Group’s Tatra banka to fully digitalize their customer onboarding process, while enabling existing remote and mobile customers with full account access and functionality.

DOT

As a result, customers save at least 70% of their time versus physical branch transaction after the implementation of DOT. “Innovatrics’ solution provides a very effective link between the mobile phone, the bank, and the Ministry of Interior”, noted Michal Liday, Chairman of the Board of Directors and General Director at Tatra banka, “According to recent surveys, up to 30% of the total number of newly opened accounts, and more than 50% of accounts opened by students, are created using digital onboarding.”

Integrating optical character recognition (OCR) and state-of-the-art facial biometrics into a mobile application, DOT allows customer onboarding to be quickly and securely accomplished in two simple steps using the client’s own mobile device without having to visit a brick-and-mortar branch, resulting in a significant reduction in errors, time, and resources.

Users are first tasked to take a photo of both sides of their identification card. Afterwards, they are prompted to take a selfie to verify that the image is actually the same as the picture on the submitted ID. A ‘Liveness Test’ is performed for added security wherein the client has to follow with his or her eyes a randomly moving dot appearing on the mobile screen. Moreover, the screen is automatically blurred if the system is unable to detect a legitimate user. Using the device’s front camera, Innovatrics’ proprietary technology scans the user’s eye movements, facial features, and light conditions so that the individual’s  identity can be verified — safeguarding the user against spoofing and account misuse.

“The artificial intelligence powering DOT knows hundreds of so-called facial vectors, i.e., characteristic facial features such as eye distance, forehead size, or nose distance. This smart system recognizes millions of faces and specifically knows what to look for when verifying at incredibly high speeds. It always chooses the features that define the person’s face,” remarked Peter Martiš, Innovatrics’ Chief Sales Officer.

 

To find out more on the project read our reference section.

Related news

Innovatrics ABIS Ticks All the Boxes for Civil Registry in Panama

The implementation of Innovatrics ABIS to enroll almost 5 million citizens and foreigners residing in Panama into its National Civil Registry under the jurisdiction of the Electoral Tribunal has fulfilled its responsibilities to register vital events, legal acts and consequential modifications that people can make to their civil status.   Read more

9/17/2018

5 Reasons Why Innovatrics Is Your Perfect Biometric Tech Partner

Innovatrics offers smart and practical solutions that leverage biometric technology to overcome obstacles that enable connections across & beyond organizations, transforming how people work and interact, and improving the lives of people across all demographics. Here are the top 5 reasons (among the many others) why Innovatrics stands out among the rest: 1. We Simply... Read more

8/23/2018

This site uses cookies to provide services, personalise ads and to analyse traffic. You consent to our cookies if you continue to use our website. More info

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close