Regtech

CIMB Philippines Selects Zoloz’s eKYC Solution for Frictionless Onboarding

CIMB Philippines announced that it has collaborated with Zoloz, an eKYC technology provider, to further strengthen its digital banking services.

The bank will leverage Zoloz’s eKYC solution for frictionless user onboarding and enhanced payment experience, making financial services more accessible and inclusive to Filipinos.

Zoloz’s RealID eKYC solution streamlines the whole customer identity verification process for financial institutions, eliminates paper-based procedures, and reduces the cost and time spent on manual verification. This results in a faster onboarding and an enhanced customer experience.

The solution also helps financial institutions adhere to regulatory compliance with its rich AI model and comprehensive risk management engine that can guarantee high accuracy and reduce identity fraud.

Vijay Manoharan

Vijay Manoharan, CEO of CIMB Bank Philippines said,

“With the vision to drive financial inclusion in the Philippines, we have onboarded more than five million depositors and one million lending customers since 2018.

The next phase of our growth strategy is to strengthen our platform-banking model, embed our solutions to more services and platforms, and make our services an integral part of more Filipinos’ lives – whether that’s to save for their future, get easy access to loans or credit, or meet their insurance needs for protection.”

Chen Jidong

Chen Jidong, General Manager of Zoloz said,

“We are excited to collaborate with CIMB Bank Philippines to promote financial inclusion and bring benefits to the unbanked community in the country.

Our proven eKYC solution will assist CIMB Bank Philippines to bring seamless and reliable services to its digital banking customers.”