A customer using VNDirect Securities Corp's eKYC platform (Photo courtesy of VNDirect Securities) Hanoi (VNA) - VNDirect Securities Corporation has launched anelectronic platform to help customers make secure and fast identificationwithout meeting the teller directly.
With the new the solution, named Electronic Know Your Customers (eKYC), it willtake only five minutes to clarify their accounts after the registration oninternet-connected devices such as smartphones and laptops.
The solution aims to simplify paperwork and procedures for both clients and thecompany, especially those that are busy and have no time to travel back andforth between their offices and VNDirect, the company said in a statement.
As the COVID-19 pandemic is expanding in various localities, opening andclarifying accounts via eKYC will minimise the risk of community transmissionand help the Vietnamese defeat the virus spread, VNDirect said.
The Vietnamese securities market is a young industry with the percentage ofactive accounts/total population remaining low compared to more-developedmarkets.
By the end of 2020, the percentage is expected to reach 3 percent, much lowerin comparison to the rare of 50-60 percent in the US and Europe.
The launch of the eKYC is part of VNDirect’s strategy to tap young customers,who are well-skilled at technology, as the development of technologies makessecurities trading more convenient.
According to the Digital Business Division, VNDirect in 2019 digitalised 60 percentof all working modules. The eKYC solution will be the key to the company’s planto serve a larger number of individual customers in 2020.
According to the Vietnam Securities Depository (VSD), the total number of newaccounts opened by Vietnamese investors was more than 192,400.
In the seven-month period, the total number of new individual accounts openedat VNDirect was nearly 66,500, up 94 percent on-year and accounting for 34percent of the market’s total./.
With the new the solution, named Electronic Know Your Customers (eKYC), it willtake only five minutes to clarify their accounts after the registration oninternet-connected devices such as smartphones and laptops.
The solution aims to simplify paperwork and procedures for both clients and thecompany, especially those that are busy and have no time to travel back andforth between their offices and VNDirect, the company said in a statement.
As the COVID-19 pandemic is expanding in various localities, opening andclarifying accounts via eKYC will minimise the risk of community transmissionand help the Vietnamese defeat the virus spread, VNDirect said.
The Vietnamese securities market is a young industry with the percentage ofactive accounts/total population remaining low compared to more-developedmarkets.
By the end of 2020, the percentage is expected to reach 3 percent, much lowerin comparison to the rare of 50-60 percent in the US and Europe.
The launch of the eKYC is part of VNDirect’s strategy to tap young customers,who are well-skilled at technology, as the development of technologies makessecurities trading more convenient.
According to the Digital Business Division, VNDirect in 2019 digitalised 60 percentof all working modules. The eKYC solution will be the key to the company’s planto serve a larger number of individual customers in 2020.
According to the Vietnam Securities Depository (VSD), the total number of newaccounts opened by Vietnamese investors was more than 192,400.
In the seven-month period, the total number of new individual accounts openedat VNDirect was nearly 66,500, up 94 percent on-year and accounting for 34percent of the market’s total./.
VNA
