Thanks to mobile applications and developing technology, there is no longer any need to deal with problems such as waiting at the branch or taking a queue for banking services. All users can perform money transfer or investment transactions through the applications at their homes, workplaces and even during their travels. So much so that in order to become a customer of a new bank, there is no obligation to present an identity card face to face. Because KYC verification systems help to complete these transactions with high security and much more lossless. Today we are reviewing the steps to open a deposit account from a bank using remote KYC.
The first step in opening a deposit account with remote authentication is of course, accessing the bank's current application from mobile devices. It is possible to easily install official applications from application libraries to devices. At this stage, let us remind you that you can use your phone or tablet for the transaction.
The next step is to choose the step of becoming a new customer after you have the application of the bank you want to become a customer of and open an account with. As of this step, security authentication systems come into play and the process begins.
When you reach the stage of becoming a new customer, the application directs you to the interface where the KYC process is performed. In order to take action in this interface, the prospect does not need to make any extra effort. With the instructions used, the remote KYC phase is started quickly.
“What is KYC?” The first of the steps used to find the answer to the question is the identity document check. The new generation T.C. ID cards and passports are among the documents that are valid at this stage. In the document verification step, the front of the identity card and passport is read first. In this step, where OCR technology is used, artificial intelligence also allows the necessary parts of the document to be read correctly and verified by the services. The high technology of KYC is also revealed once again in this step. The same process applies to the back side reading of ID cards.
This stage, called contactless chip control in remote authentication, is this application that significantly improves the security rate of KYC. At this stage, the information in the NFC chip in the ID cards and passports is received contactless with the mobile device and their accuracy is checked. Biometric photos displayed from the chip in the NFC stage are used for the face matching process in the next stage.
Face verification with a mobile device is “How to do KYC?” It is one of the first stages that comes to mind when the question is asked. Face match and vitality check are used during account opening to determine whether the person is a real person and the real owner of the previously verified identity document. The liveness check is important to prove that the person making the transaction is a real person, to understand whether there is a graphic image obtained with applications such as Deepfake and to understand that the transaction is performed voluntarily. Thus, security in account transactions is at the highest level.
The last step to open a new bank account is to make a video call with the bank's customer representative. With the secure KYC tools, the video call phase can be done directly as in the bank branch. Unlike ordinary customer service applications, security controls continue during the call in advanced KYC applications. For example, whether the person is a living and real person, the mood and conditions under which the information is transmitted are also controlled by artificial intelligence technology. In addition, additional security questions for the confirmation of the information displayed on the customer representative screen are one of the important stages of the video call process.
That's how easy and safe it is to open an account instantly from any bank in 7 steps. For more detailed information on KYC solutions, do not forget to review our LiveAuth product. If you are wondering how many customers the banks reached with KYC solutions in 2022, you can also take a look at our blog post.