Fintech makes online account opening easier

Fintech makes online account opening easier

Under the catalysis of the epidemic, investors' demand for digital finance has increased greatly, coupled with the influx of Internet generations into the stock market, "online account opening" has become a hot search keyword. In order to provide more convenient account opening options, all securities companies actively think about how to use fintech to simplify account opening procedures. Oriental Securities Corporation also cooperated with Far Eastern International Bank to develop a one-stop online account opening service, which was officially launched on September 16.

Action wisdom trend to accelerate financial service innovation

In the era of action intelligence, almost everything in life can be completed through mobile phones, which also drives the vigorous development of fintech. Taking the securities industry as an example, digital services from action orders to online e counters (including online application passwords and online signing of various contracts) have already been launched. Only the part of "online account opening" needs to open a bank settlement account together with securities account opening, which requires much more time-consuming and cumbersome procedures and time than simply opening a bank account, In addition, in recent years, due to the relevant provisions of the competent authority on money laundering prevention and control, the account opening procedure has become more lengthy. Therefore, how to add fintech elements in the process to simplify the account opening procedure has become the primary task of the securities industry.

Import fintech to make account opening easier

        1. Mobile phone number OTP verification:

The first step of online account opening is to verify the effectiveness of the applicant's mobile phone number. The online account opening platform of Oriental Securities Corporation uses the one-time password OTP (one time password) to send the verification code to the applicant's mobile phone number. The applicant can complete the verification by entering the verification code.

        2. Simplify the data filling procedure with OCR:

In the past, when opening an account at the counter, the operation time was at least 30 minutes, and the round-trip travel time was not included. When opening an account online, you can upload the certificate image through your mobile phone. In order to further simplify the data filling process, Oriental Securities Corporation specially introduces "optical character recognition (OCR)", which can automatically identify the field information on the certificate image and convert the content into text messages, saving the time of filling in the data one by one.

        3. Digital account opening, binding and delivery account and identity verification:

Since opening a securities account requires opening a bank settlement account, some securities chambers of Commerce require applicants to open a settlement account at the bank first as proof of identity for opening an account on the securities end line. Others require applicants to use natural person certificates for identity verification in addition to opening a settlement account on the counter.

In order to avoid public trouble, Oriental Securities Corporation cooperates with the team of Far Eastern International Bank to provide 24-hour online banking and securities account opening services. As long as the applicant completes the opening of the digital securities settlement account of Far Eastern International Bank online, he can perform identity verification and bind the securities settlement account with one click in the online account opening procedure of Oriental Securities Corporation, replacing the procedures for opening an account at the counter and signing by the handling personnel.

        4. Digital signature gives legal effect to contract signing:

Perhaps you will worry that without the procedure of personally sealing the contract, will there be security concerns? In fact, the securities chamber of commerce cooperates with the institutions issuing license certificates to add digital signatures in the signing process to ensure the "confidentiality" of electronic documents, the "integrity" that cannot be tampered with, and the "non repudiation" of electronic documents, so that online signing contracts has legal effect.

        5. Import RPA to accelerate the efficiency of back-end review:

In addition to providing a friendly operation interface, securities firms also continue to optimize the review process on the back-end system. For example, Oriental Securities Corporation imports the process robot RPA (robotic process automation), which automatically connects important external systems such as household administration, family court, stock exchange default query, centralized securities center money laundering prevention blacklist, etc, Help the handling personnel to quickly complete the account opening and credit investigation, and use the online signing procedure to automate the examination procedure and make the account opening form paperless, so as to improve the case processing efficiency.

        6. Encrypted sending of electronic transaction password, taking into account convenience and security:

Most securities firms store the electronic transaction password in an encrypted way and send it to the e-mail box filled in by the customer, supplemented by the OTP verification code as the file opening code, so as to ensure the security of the electronic transaction password through a dual mechanism.

Enter the palace of financial management from online account opening

In the era of low profit, investment and financial management is a subject that everyone must learn, and the first step of investment is to open an account. You are welcome to step into the palace of investment through the simple online account opening interface. As long as you widely absorb all kinds of financial knowledge, cultivate the correct concept of financial management, consider your own financial resources and operate carefully, I believe you can finally achieve fruitful results!

Business and Company
News Type
  • 產業創新和基礎設施

FE Magazine 2021/10

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