/Digital Signature Implementation for Credit Card Application

Digital Signature Implementation for Credit Card Application

On Monday, 10 August 2020, PrivyID held a webinar in collaboration with the Indonesian Credit Card Association (Asosiasi Kartu Kredit Indonesia/AKKI). The webinar lasted for about 1.5 hours and was attended by over 40 professionals from 15 companies.

During this online event, PrivyID’s Founder and CEO, Marshall Pribadi, introduced PrivyID’s services that could enable credit card issuers to onboard new customers with a digitized application system. “We understand that each company has their own challenges and infrastructure”, he continued, “It is based on this insight that PrivyID develops end-to-end, mid-to-end, mobile sales tools, and API integration to cater to clients of all stages.”

PrivyID’s legally-binding digital signature solution has been proven to be successful in assisting six banks in Indonesia to manage over 50,000 of applications during their time participating in Bank Indonesia’s regulatory sandbox period.

More than just a digital signature provider, PrivyID’s solutions can also help banks conduct their e-KYC process. “PrivyID is an official partner of Indonesia’s Directory General of Population and Civil Registration. This partnership enables us to verify customers’ identity more accurately and more efficiently. Additionally, we are also listed as an e-KYC solution provider by Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan/OJK)”, said Marshall.

Also participating in the webinar is Hardian Chandrakusuma, Senior Manager of Card Product Management of Bank Mandiri. Through a pre-recorded presentation, Chandra explained the rational behind Bank Mandiri’s decision to digitize their credit card application process.

“Around 96% of internet users in Indonesia access the internet using their smartphones. Most of them are from the younger population”, said Chandra.

He continued, “Our observation revealed that customers from this segment are cashless-minded, tech savvy, and critical. Once they become unsatisfied with a product, they will not hesitate to switch to another service provider.”

By implementing PrivyID’s digital signature solution to their online application system, Bank Mandiri has managed to improve their customer satisfaction by accelerating the duration of the process. Previously, customers need around 10 to 15 minutes to fill and sign their credit card application. PrivyID’s solutions enable Bank Mandiri’s customers to finish the same process within 5 to 8 minutes. Volume of applicants and approval rate also improve significantly.

Chandra ended his presentation with a short advice. “I believe that a satisfied customer is the best business strategy of all. Therefore, we need to ensure that our customers always have a convenient and positive experience when interacting with our products and services”, he concluded.

 

 

 

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