Reimagining instant banking by balancing fraud management and customer experience.

DBS Bank is a regional and global leader in digital banking, and the seventh largest bank in Hong Kong.

Over the past decade they’ve reimagined banking for millions, creating an integrated financial ecosystem for customers. With Card+, they’re empowering customers to access banking services through a single app. DBS want to stand out in a market where everyone is promising instant banking.

“We want our product to really deliver on those marketing claims,” said Eric Suen, VP Technology at DBS. “We want to give customers a quick set-up and powerful credit.”

For Eric, powerful credit starts with powerful onboarding. DBS needed to balance frictionless sign-up with KYC and AML needs. This is essential as Card+ is app-first, making it more difficult to establish that someone signing up is who they say they are. Failing to perform adequate checks would put DBS at regulatory and fraud risk.

However, putting too many checks in place would harm sign-up conversion rates.

DBS originally approached the challenge of verifying their customers with a global document verification provider. While it gave them confidence in their fraud and compliance needs, too many genuine customers were falsely rejected at sign-up due to poor accuracy and a high-friction UX, costing DBS future revenue-generating customers.

Find out how DBS set out to redesign their Card+ onboarding from the ground up with Onfido.

Check it here.