Alliance Bank Malaysia Berhad

 

Alliance Bank Malaysia has won the Excellence in Omni-channel Integration category at the virtual Retail Banker International (RBI): Asia Trailblazer Awards 2021, a customer on-boarding tool that eases Know Your Customer (KYC) procedures and integrates into the bank’s wider mobile application for new customers.

Omnichannel excellence
The allianceonline Mobile eKYC Customer on-boarding tool from Alliance Bank Malaysia Berhad uses Optical Character Recognition, Facial Biometrics, ID Authentication, and Automated Bureau Check technology to prioritize convenience. This makes it easier for customers to instantly open an account and apply for a credit card or personal loan from any location via the over-arching allianceonline mobile app in as little as 10 minutes, versus 24 hours previously. Having a single point of access like this cuts the need to download multiple apps, and truly offers the desired ‘Bank In Your Pocket’ functionality with various ‘Swiss Army Knife’ tools branching off from it. This is a guiding goal for the project team.

The Omnichannel experience is further enhanced by connectivity to an In-Branch Tablet that can handle the very rare and exceptional cases where customers aren’t able to complete the self-service journey via their smartphone. They don’t need to re-provide any infromation already submitted due to the design. In future, virtual branch support will further streamline exceptions-handling procedures and the over-arching allianceonline mobile app will be expanded to access other digital services.

The eKYC Customer on-boarding tool is a gateway that already means customers can instantly open a bank account 24x7, or apply for a card or loan easily. But it additonally means authenticated users can be secure and:

  • Gain access to digital banking services: on the over-arching allianceonline mobile app and functionality, such as Accounts Overview, Fixed Deposits, QR Payments, Fund Transfers, Foreign Telegraphic Transfers and Remittances. Payments can be authorized simply as well, at any time.
  • Access support: More help can be obtained by tapping a button, and users enjoy enhanced always-on availability.

The key benefits accrued are:

  • Return on investment (RoI) projected to be as little as 3 years.
  • Improved acquisition cost and cost-to-serve running expenses.
  • Savings on card issuance & annual fees as a physical card is now optional for digital accounts opened via the eKYC tool. In-app card control and oversight functions also ease customers' need to ever visit a bank branch or automated teller machine (ATM).

 

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The Retail Banker International Asia Trailblazer Awards is an annual platform that celebrates the best in class retail banking institutions and individuals for their innovative service offering and commitment to customer excellence.

If you would like to share your incredible consumer finance journey, then register for the 13th Annual Retail Banker International Asia Trailblazer Awards 2022 and submit your entry!