eKYC (electronic know your customer) solution for Bank

1. Challenge

We provide banking and financial services in Vietnam. In the context that customers are less likely to  come to the bank counter because Covid-19's issue is very complicated; the customer is difficult to find a  parking space, then waiting to be served; This resulted in a sharp drop in transaction volume, making us  need to find solutions to solve this problem for both customers and banks. We think that it is necessary  to have an eKYC (electronic know your customer) solution to identify customers via mobile devices,  though customers do not need to go to the bank counter to be identified and they can make  transactions remotely. This needs to be in place for a maximum of 3 months to ensure attracting new  customers and serving existing ones.

2. Selection

We think that these are just our analysis and assumptions, not sure whether eKYC implementation can  solve the above problems? While the cost of hiring vendors, building solutions, and integrating with  existing mobile apps can take a lot of resources including time and money. So we choose the Learning  Lunch tool to verify our assumptions to be correct, based on our testing with customers, if our  hypothesis is correct and valid, the bank will step up from and develop the eKYC experience more  widely.

3. Application

We begin with an analysis based on the bank's existing data on customer transactions. Then we define  the customer base and build a customer persona who wants the eKYC solution. We meet and interview  the client in the set of customer base to test and refine it. We then proceed to build the customer  journey mapping based on the interview data we have collected. We then build a prototype of the eKYC  solution based on the customer journey mapping that we design, combined with the vendor’s technical  solutions. This prototype is then demonstrated to the client we interviewed for feedback and  adjustment, to ensure that the solution we come up with completely satisfies their needs. After  confident that our design concept is sufficient to meet the basic needs of our customers in eKYC, we  proceed to develop a solution with the most core features required.

4. Insight

Through this approach, we realize that our assumptions are not always correct. We initially built a  customer persona based on the bank transaction we had. However, when we actually meet and  interview the client, we need to adjust what we assumed. Next, we designed the eKYC solution  prototype based on the vendor’s experience as well as our previous customer understanding. However,  when we actually test that with the customer, we need to adjust it again to fit the real customer  experience.

5. Approach

In the future, we will use more Visualization and Mind Map tools to make it easier for us to find out  where the client's real problem is and how to build a solution to solve their needs. For example, instead  of just building prototypes based on static screens, we could design Storytelling to make customer  feedback more relevant. We will use the Mind map tool to be able to systematize the assumptions we  have about customers.

