[Case Study] Digital Banking Innovator - Pioneering banking app, powered by platform flexibility and best-of-breed biometrics

See how a partnership with Daon helped a financial services pioneer launch a market-leading banking app in its customers' native language, fully secured by voice and face biometrics 

DBI case study social

THE CHALLENGE

A digital banking innovator wanted to offer a superb customer experience to its young customer base, featuring a cutting-edge banking app powered by biometrics. But inflexible licensing and engagement models offered by biometric technology vendors frustrated its development efforts. It needed to find a vendor who could work flexibly, iterating different versions of the enrollment process until it offered a seamless experience.

THE SOLUTION 

The bank reached out to Daon and found the partnership approach it was aiming for. Working closely with the bank’s Innovation VP, Daon built, customized and refined the app using multifactor authentication. Daon incorporated its own facial matching algorithm and a voice technology from another vendor the bank had selected; both voice and facial recognition were available in the app when it launched into the market.

THE ROLLOUT

Customer reaction was excellent: the app was successfully launched in the local language of the bank’s customer base and expanded to a second territory. A weak link in the solution, however, was the voice element, which came with an inflexible software licensing model from the third-party vendor. After considering its options, the bank chose to move away from the legacy voice technology and upgrade to the latest release of Voice X, Daon’s own voice matching algorithm.

A SEAMLESS SWITCHOVER FOR CUSTOMERS

The bank successfully made the switch, and not a single customer had to re-enroll a new voiceprint. All voice files – maintaining local, non-English language prints – were migrated, and the changeover was invisible to end customers. Best of all, the bank has achieved its goal: it’s enhanced its market reputation for thought leadership, being the first to successfully feature multi-modal biometrics in its banking app, including best-of-breed voice recognition. VoiceX is also delivering cost savings, thanks to Daon’s licensing model and the fact that it uses less physical infrastructure.

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[Case Study] International Banking Group - Looking to the future with biometrical secured banking

See how Daon is supporting a banking group’s modernization program by letting customers authenticate via their mobile phone.

IBG case study social

THE CHALLENGE

An international financial services group was modernizing its digital banking services and needed a new solution to authenticate customers. It had to be convenient for customers, meet stringent new compliance requirements, and work seamlessly across multiple bank brands in the group.

THE SOLUTION 

The banking group chose Daon, both for the proven ability of the IdentityX security platform to provide Strong Customer Authentication, and for the design and architecture capability of Daon's services team. IdentityX allows bank customers to verify their identity using multiple factors: something they possess, something they know, and something they are, e.g. a biometric attribute confirmable by a fingerprint, voice or facial recognition.

THE ROLLOUT

The orderly migration of more than 5 million bank customers is being completed over a nine-month period. The single IdentityX instance can be used for multiple bank brands, eliminating duplication of infrastructure while ensuring total separation of customer data.

GETTING CLOSER TO CUSTOMERS 

The Daon solution delivers compliance and convenience, letting customers authenticate easily with the mobile phone that's already in their pocket. It also opens the doors to a deeper relationship with customers, including push notifications for account alerts or upsells. 

Plus, IdentityX enables server-side voice and face matching for future capabilities, like voice recognition for the call center.

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[Case Study] Polarify: Joint Venture for Cross Channel Biometric Authentication & e-KYC

Learn about the benefits of Polarify, Daon's joint venture with Sumitomo Mitsui Financial Group/Sumitomo Mitsui Banking Corporation and NTT Data

Polarify Blog

THE CHALLENGE

Japanese service providers wanted to offer a better experience to their customers, both in customer registration for new services, i.e. digital onboarding or e-KYC and when accessing services or approving transactions. If every service provider developed their own solutions, that would introduce even more friction for customers and costly duplication of effort.

THE SOLUTION 

Sumitomo Mitsui Financial Group/Sumitomo Mitsui Banking Corporation, one of Japan’s largest financial groups, along with its technology partners NTT Data asked Daon to bring its technology and expertise to a new joint venture. The result is Polarify: a service that delivers cross channel secure and convenient biometric authentication and e-KYC for streamlined digital onboarding.

THE MARKET REACTION

Polarify quickly became an attractive alternative by offering best-of-breed biometric authentication and onboarding capabilities as a service within the Japan market. With Daon as its partner, Polarify delivers a future-proofed solution for customers, who include not just banks, but also some of the world’s most prestigious ecommerce and insurance companies, including Japan’s largest life insurance company.

THE E-KYC AND TRUSTED AUTHENTICATION OPPORTUNITY

Recent revisions to the Japanese Act on Prevention of Transfer of Criminal Proceeds (APTCP) and other Know Your Customer (KYC) regulations enabled Japanese companies to go digital with their customer KYC procedures and particularly to leverage facial biometrics to enable the integrity of e-KYC. Not only that, in a single process, end users can be registered in an e-KYC process and setup for trusted authentication– a market leading business innovation from Polarify that benefits all sides, while still complying with Japan’s strict regulatory requirements.

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[CASE STUDY]: Large U.S. Credit Union

See how cross-channel identity continuity with IdentityX lets members access services securely, from anywhere, with their finger, face, or voice.

Credit Union Blog

THE CHALLENGE

A large U.S. credit union required a tried and trusted solution that could help reduce account takeovers and fraud. The optimal solution would also enhance the customer authentication process in the popular mobile channel.


THE SOLUTION 

The credit union was initially seeking a mobile-only solution, but Daon explained how IdentityX can be rolled out, seamlessly, across all of the credit union's channels. Not only would this approach modernize customer authentication in the mobile and web channels, but completely transform the call center experience as well, via multi-factor authentication and auto attendant call authentication.


THE RESULTS

Daon's IdentityX platform was rolled out to the credit union's members, providing them with a mobile and web banking platform where they choose how they authenticate themselves. The system has also been integrated into the credit union's busy contact center where it manages user authentication and handles simple query calls.


THE BENEFITS

Since deploying IdentityX, the credit union has facilitated a passwordless environment throughout the organization, and by moving 75% of simple query calls to its IVR, the credit union saved millions of dollars in its first year.

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[CASE STUDY]: Mox Bank

See how biometrics have been designed in from the start to deliver the security and uncertainty required to ensure success 

MoxBank Blog


THE CHALLENGE

Mox, a new virtual bank in Hong Kong by Standard Chartered in partnership with HKT, PCCW and Trip.com, needed a way to achieve seamless, secure onboarding and customer authentication over a mobile device. The onboarding and authentication experience had to offer superb usability and convenience compared to passwords, and help the bank maintain contact with customers over the lifetime of their account.


THE SOLUTION

Biometric technology was a natural fit: it delivers that seamless experience and helps the bank maintain contact and achieve continuous engagement with customers -- something that is especially important for a bank which does not have any branches. Mox selected Daon, global leader in biometrically-secured banking, to provide the core technology that secures the bank's customer app.


BIOMETRICS: A NATURAL FIT FOR A VIRTUAL BANK 

Daon is vital to delivering the security and certainty required to make Mox a success. The Hong Kong deployment follows a number of successful implementations by other international banking groups who use Daon's technology to give digital bank customers a secure, convenient way to verify their identity while also meeting robust compliance requirements. To learn more, visit Case Study: Digital Banking Innovator

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[CASE STUDY]: Target Professional Services

Discover how pension providers are leveraging biometrics and a user-friendly mobile app, mypensionID, to transform the efficiency of customer communications. 

mypensionID Blog


THE CHALLENGE

GDPR requires pension schemes to keep member data updated and to cease payments promptly when beneficiaries pass away. In addition, Target Professional Services, a UK firm specializing in data verification, needed an easier way for schemes to maintain communications with members, and for members to view all their pensions in one place.

THE SOLUTION

Working with IdentityX, Target developed mypensionID: an innovative app that incorporates Daon's best-of-breed biometrics technology. The app makes it simple and secure for pension schemes to onboard their customers, confirm liveness, and open a two-way digital communications channel for the first time.

MARKET REACTION

One of the UK's largest pension schemes is using mypensionID and two further schemes are in pilot, reflecting the industry's demand for a better means of communications than traditional post and email. Payments to deceased beneficiaries remain a billion-pound problem in the UK, and the app makes it faster and easier for schemes to conduct annual liveness checks with members and maintain up-to-date, GDPR-compliant member details.

TRANSFORMING THE PENSIONS INDUSTRY

Looking to the future, the app could allow liveness checks to be done monthly, instead of annually, representing a significant financial benefit by allowing payments to deceased members to cease more promptly. Target believes that mypensionID, and the biometric security it uses, are a good example of the innovations that will become commonplace as the pensions industry continues its digital transformation.

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[FREE REPORT] Daon Featured in Raconteur's Future of Authentication

Authentication Social Card Daon

Daon is pleased to be featured in Raconteur's “Future of Authentication” Report in The Times newspaper, where our own Clive Bourke, President EMEA & APAC, talks the "Blunt Truth About Authentication.” The piece explores how customer-centric businesses are prioritizing a frictionless user experience as well as protection of consumers from fraud with smart onboarding and authentication with insights from Atom bank and Polarify. Download the full report here.

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[PODCAST] 5 Simple Rules for PSD2 Strong Customer Authentication Success

Chief Legal Counsel, Martin Walsh, and Head of Pre-Sales of EMEA, Eric Gilmore, discuss the 5 Simple Rules for PSD2 Strong Customer Authentication Success. You can also download our free guide about PSD2 SCA to accompany this week's episode and keep you fully informed about the approaching compliance September 2019 deadline. 

Check out more from our new podcast series and hear from various Daon leaders on the latest trends and hot topics driving the identity industry.

 

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[PODCAST] A Culture of Innovation

In this eleventh episode in the Daon Podcast Series, we talk with Kathleen Kozlow, Global Head of Human Resources, about how HR has evolved over the years, finding the ideal candidate and get a peek into Daon’s company culture.

Check out more from our new podcast series and hear from various Daon leaders on the latest trends and hot topics driving the identity industry.

 

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[PODCAST] Bringing the Delight, Efficiency and Security to the Contact Center

In this twelfth episode in the Daon Podcast Series, Jason Beloncik, Head of Solutions, Americas, deconstructs the current reality of customer experiences in the contact center and explains how, specifically, online-inspired technologies can dramatically improve those experiences, stop caller fraud, and save millions in the process.


To read our latest Contact Center guide, click here

Check out more from our podcast series and hear about the latest trends and hot topics in identity. 

 

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[PODCAST] CCPA: the good, the bad, and the newly liable

In this eighth episode in the Daon Podcast Series, we talk with Elliot Golding, partner at Squire Patton Boggs and co-chair of the E-Privacy Law Committee at the American Bar Association, about the coming impact of the California Consumer Privacy Act (CCPA) and what you should know before it takes effect on January 1st, 2020.

Check out more from our new podcast series and hear from various Daon leaders on the latest trends and hot topics driving the identity industry.

 

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[PODCAST] CEO Tom Grissen on the Emotion of Trust

In this sixth episode in the Daon Podcast Series, CEO Tom Grissen explains the emotional aspect of creating consumer trust and predicts how businesses and consumers will change over the next ten years.

Check out more from our new podcast series and hear from various Daon leaders on the latest trends and hot topics driving the identity industry.

 

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[PODCAST] Creating & Protecting Biometric IP

In this fourth episode from the Daon Podcast Series, CFO Diana Donohue talks with Intellectual Property Counsel Kevin McDermott about Daon's more than 100 advanced technology patents.

Check out more from our new podcast series and hear from various Daon leaders on the latest trends and hot topics driving the identity industry.

 

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[PODCAST] GDPR: Biometrics & Consent

In the first episode from the Daon Podcast Series, Senior Legal Counsel, Ruth O’Toole, outlines how the recent EU General Data Protection Regulation 2016/679 (GDPR) defines “Explicit Consent” and how Daon’s technology is fully GDPR compliant in this complex arena. 

Check out more from our new podcast series and hear from various Daon leaders on the latest trends and hot topics driving the identity industry. 

 

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[PODCAST] Multi-Factor Authentication: Explained

In this ninth episode in the Daon Podcast Series, we hear from Paul Kenny, Daon's Chief Technical Architect, on the key considerations for multi-factor authentication, including how to fine-tune security, manage complexity, and optimize usability for the customer.

Check out more from our new podcast series and hear from various Daon leaders on the latest trends and hot topics driving the identity industry.

 

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[PODCAST] Simple, seamless digital customer onboarding

In Episode 13 in the Daon Podcast Series, John Duggan, Daon’s SVP SE Asia & ANZ, talks digital onboarding, including customer trends and demands across various market sectors and geographies, and COVID-19’s acceleration of digital services. 


To read our latest guide on managing the surge of new digital customers during COVID-19, click here

Check out more from our podcast series and hear about the latest trends and hot topics in identity. 

 

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[PODCAST] The Science of Biometrics

In this fifth episode from the Daon Podcast Series, Senior Research Scientist Dr. Mark Kane provides an introduction into biometrics and the issues we solve, particularly with voice authentication.

Check out more from our new podcast series and hear from various Daon leaders on the latest trends and hot topics driving the identity industry.

 

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[PODCAST] Thought Leaders Corner: Interview with Ashar Nazim, CEO of Aion Digital

We’re proud to launch Daon’s Thought Leader Corner, a new audio space where today’s top thinkers, leaders and experts share their independent perspective on the industry. Our guest today is Ashar Nazim, Group CEO of Aion Digital, one of the fastest growing fintech solution providers in the Gulf Cooperation Council (GCC) and partner of Daon.

Ashar is a fintech investor and board advisor. He is the lead-founder of the digital onboarding platform (Waqfe) that is deployed by banks in the GCC.

Formerly, Ashar was Partner and global head of Islamic banking practice at EY. He led the firm’s advisory practice to build-out 30 major Islamic financial institutions and national level programs across emerging markets.

Ashar also served as Senior Strategist at the Central Bank of Bahrain where he was responsible for the implementation of financial sector reforms. In 2017, Ashar left EY to focus on building fintech businesses for financial institutions. He is working alongside leading regional banks to invest in, and build and operate fintech solutions.

Ashar’s network and unique track record of strategy consulting, operational buildout and customer experience roles gives him a holistic understanding of digital influences driving change for the banking industry. He directed set up of a fintech consortium of banks in GCC, consulted boards of Islamic banks on digital transformation and worked alongside management teams on operationalising digital strategies.

In this first episode, Ashar touches on customer onboarding as the gateway for banks going digital and how Aion’s understanding of the local banking and regulatory landscape ultimately led to the game-changing creation of a unified single market of 34 million GCC nationals.

Check out more from our podcast series and hear about the latest trends and hot topics in identity.

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[PODCAST] THOUGHT LEADERS CORNER: Interview with Rana Bhattacharya, CTO of Atom bank

In Episode 2 of Daon’s new Thought Leaders Corner, we speak with Rana Bhattacharya, CTO of Atom bank, the UK’s first app-only bank and the first to use face and voice biometrics. The bank has also been named the UK’s most trusted bank by Trustpilot.

Rana has experience in large scale systems development and delivery success for major players in the finance sector. He has been a member of the Executive Committee at Atom since April 2017, responsible for IT, Change and Programme Management. Before joining Atom, Rana held roles such as Chief Architect at Nationwide Building Society and Senior Manager for Architecture and Delivery at Accenture.

Rana has been recognized by Computing as one of the top 250 IT Leaders in 2019.

In this episode, Rana gives us a preview of Atom’s new banking platform, shares some lessons learned, and explains how his bank is supporting employees, customers, and community members during COVID-19.

Check out more from our podcast series and hear about the latest trends and hot topics in identity.

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