BSI originated from three state-owned banks which are subsidiary of larger banks: BRIsyariah (of Bank Rakyat Indonesia/BRI), Bank Syariah Mandiri (of Bank Mandiri) and BNI Syariah (of Bank Negara Indonesia/BNI).
Bank BSI sees that the product maturity of IdentifAI can be a solution to the challenges faced, customer onboarding for opening bank accounts.
By using Passive Liveness from IdentifAI, BSI is able to acquire users who use face attributes such as the hijab which is dominantly used in Indonesia.
The Story of Bank Syariah Indonesia (BSI)
BSI is a bank from the merger between PT Bank BRI Syariah Tbk, PT Bank Syariah Mandiri and PT Bank BNI Syariah. This merger unites the advantages of the three Islamic banks, thereby providing a more complete service, wider reach, and having a better capital capacity. Supported by synergies with companies and the government's commitment through the Ministry of SOEs, Bank Syariah Indonesia is encouraged to be able to compete at a global level.
BSI's potential to continue to grow and become part of the leading Islamic bank group at the global level is very open. In addition to positive growth performance, climate support that the Indonesian government has a mission to create a halal industrial ecosystem and has a large and strong national Islamic bank, the fact that Indonesia as a country with the largest Muslim population in the world also opens up opportunities.
In this context, the presence of BSI becomes very important. Not only able to play an important role as a facilitator in all economic activities in the halal industry ecosystem, but also an effort to realize the country's hopes.
The Challenge in acquiring Customers Through Digital Platforms Before Using IdentifAI
From 2021 to 2025, BSI targets customer acquisition to increase 100 percent per year. If in 2021 the total customers are 15.5 million, then in 2025 it is targeted to be 40 million customers.
However, this customer acquisition process has many obstacles besides the competitor factor. The covid19 that happened in the last 3 years has made the account opening process for various banking needs unable to be done offline.
Thus, BSI needs to accelerate the process of adopting digital platforms as a means of Digital Customer Onboarding. Through this method, the e-KYC process, which previously required filling out a physical form and meeting face-to-face with a KYC agent, becomes shorter because it can be done wherever the potential customer is.
However, the problems didn't stop there. This digital onboarding process is closely related to customer experience which affects customer acquisition. BSI delved into their data and found another findings that must be considered carefully which are:
Completion and approval rates for KYC
Reasons for rejection
SLAs for verification
From these findings, BSI knows what is the exact problem statement that they have to answer: how can we make customer onboarding a quick and painless experience while still doing their due diligence and managing risk?
The answer to this question must be able to provide tactical steps to achieve the goals that have been set: providing a smooth experience for customers.
Why BSI Chose IdentifAI as e-KYC Platform for Digital Onboarding
After comparing several e-KYC vendors, BSI finally decided to cooperate with IdentifAI, a product line from Nodeflux. The reasons behind this selection consist of several things, including:
As a native company from Indonesia that does not buy white label products from other companies, it allows identifAI's SLA to be very responsive if there are problems with the system used
Product maturity of identifAI as a line a product from Nodeflux which became the pioneer of the first computer vision software in Indonesia
Application of XAI in Passive Liveness V4 which allows BSI to know comprehensively the information from each output so that it is easy to do fine tuning
Software capabilities that are able to detect hijab as the main attribute worn by the target audience of Bank Syariah Indonesia
IdentifAI is an official product that cooperates with Dukcapil for population database integration.
With the four main reasons above, BSI decided to use Passive Liveness V4 and Platform Bersama services owned by IdentifAI.
How BSI Used identifAI for Onboarding Needs
BSI Implementing Passive Liveness on onboarding use case to keep the seamless onboarding by only taking one shot selfie photo. However, the security aspect should be balanced with the convenience experience. By having AI technology which augmented by human assistance process make BSI system to be well turned and can cut the operational cost on EKYC agent verification.
Learning from BSI, they implement proper mechasnism by having thresholding level on their risk mitigation process not only for ensuring zero fraud but also keep the user acqusition process on a minimum rejection. Implement acceptance score level to minimize false positives.
Due to its probabilistic nature, Machine Learning may give you inaccurate predictions, therefore to minimize false positives on Liveness Detection (accepted spoof), you need to set the threshold range and provide a different user handling mechanism. For example, apply leveled handling by dividing the case into three different liveness score threshold ranges:
level 1 (accepted threshold range) : The user can automatically register
level 2 (doubt threshold range) The user will be suggested to meet agent on video call
level 3 (rejected threshold range) the user will be suggested to meet agents on the office branch.
As one of the early adopters of IdentifAI, BSI has been using Passive Liveness for 1 year. When we asked about product performance so far, BSI's Product Manager Lead said that IdentifAI's Passive Liveness has helped increase BSI's customer acquisition by 30%. In addition, IdentifAI's analytic ability in detecting customers who use hijab is the main point in assisting the acquisition process of prospective customers, especially in Indonesia as the largest moslem population in the world.
In the midst of the current competition for new customer acquisition, the experience aspect is very important to prioritize on your platform and this aspect starts from the first time a prospective customer do onboarding process.
Therefore, the selection of the e-KYC platform is very crucial because you certainly don't want the number of rejections to be so large that it affects the company's target. The selection of the e-KYC platform must be based on several points: (1) how quickly the SLA is given, (2) has there been any application of XAI in analytic liveness? (3) How robust is the analytics in detecting various face attributes used by customers? These aspects are already present in IdentifAI. It's not only product maturity that we have, but as a native Indonesian company, it allows us to provide the best service very quickly and precisely whenever you need it.
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