Hyperlogy Accompanies Phu Hung Securities in Smart eKYC Project – The Revolutionary “Transformation” Step in the Digital Age

Digital transformation is an important step for all areas in the development and growth process. For companies and financial institutions such as Phu Hung Securities, the story of cooperation with Hyperlogy in Smart eKYC electronic customer identification project is even more clearly proven for this.

Phu Hung Securities Joint Stock Company (PHS)

Phu Hung Securities is the leading foreign-invested securities company, famous and reputable in Vietnam market today. The company specializes in providing professional financial and investment services to all organizations, individuals, funds and investment banks worldwide.

Established in 2006 with a strategic shareholder CX Technology, the company provides the leading cooling and plastic components in Taiwan and is one of the leading companies listed on the stock market. Taiwan, PhS inherited a strong financial platform to confidently provide securities operations such as:

·       Securities broker

·        Financial investment advice

·         Depository

·        Self-employed

Smart eKYC – Memorable “transformation”, marking a new start for Phu Hung Securities Company

eKYC is a digital solution to apply biometric authentication technology on mobile devices, optimizing user experience.

The context of the pandemic makes traveling and meeting directly difficult, and the old technology causes many risks in ensuring customer information, property has become a new “headaches” for financial businesses like Phu Hung Securities.

Looking for solutions for these difficulties, the company’s manager decided to combine with Hyperlogy for the electronic solution to identify customer eKYC.

Increase experience for investors 

With the eKYC Hyperlogy solution, investors can open accounts and authenticate online using a smartphone app. This aims to reduce the amount of work that necessitates in-person meetings and meticulously prepared papers, both of which take a lot of time and effort.

Increase accuracy, avoid forgery

eKYC possesses detailed data recognition features to ensure the authenticity as well as the confidentiality of customer information.

>> Read more: eKYC in banking and financial services in Vietnam

eKYC’s identification features can be mentioned as:

• Identification of optical characters (OCR): Automatically dissect information such as ID card, citizen identity or passport, and driver’s license. At the same time, this identification is capable of detecting invalid or unrealistic papers
• Face Matching: The ability to automatically identify face images on identification papers as well as compare them with direct images for verification
• Liveness Detection: This feature can automatically determine whether a real person is in front of the screen when performing EKYC verification or not, helping to prevent fake faces with printed images, Photo playback of the video … ensuring accuracy throughout the customer identification program.

Cost savings for businesses

eKYC solution with online identification features not only contributes to improving customer experience but also helps Phu Hung securities to minimize a lot of costs:

• Cost for customer transaction time
• The cost is lost when the frequency of transactions per customer lasts
• Cost of printing traditional papers and applications
• Staff costs

Thanks to the application of eKYC, Phu Hung Securities are gradually moving with the digital conversion trend, technologization of the entire working system, more convenient, and faster with the main degree. High body, security and accuracy are almost absolute.

Phu Hung Securities’ “Go-Live” Event successfully organized proving the potential as well as the great opportunities of the eKYC project in digitally transforming the entire enterprise. In the near future, Hyperlogy hopes to continue the companion of Phu Hung Securities in other digital conversion projects.