* No need to write speaker note
Things to know
– KYC – “Know your customer” or KYC is a regulatory requirement for financial institution to identify and verify the identity of customers
– Financial institution call “NFC Finance” is using KYC for customer verification.
The Problem Statement
Current KYC process from “NFC Finance” is not automated so time consuming and costly for customer verification (Current KYC process takes 40 hrs per customer)
Below is current KYC process from “NFC Finance”
Step 1 -> Desktop Research
Step 2 -> Initial Risk Assessment
Step 3 -> Client Contact
Step 4 -> Final Risk Assessment
Step 5 -> Four Eye Review
Step 6 -> Approval
The Solution for current KYC process from “NFC Finance”
Solution for “NFC” Finance” is to implement “Face ID Technology” into their current KYC process.
What is “Face ID Technology” and how does it work?
https://global.faceid.com/products/id-card-recognition
By implementing “Face ID Technology” into their current KYC process, it will give below advantages
– Faster Turnaround -> Eliminating manual process for KYC process
– Greater Convenience -> Customer can upload their ID using their phone. That’s it
Request for this job:
– Create 1 presentation slide for product solution design for NFC finance using Face ID technology.
– When create product solution design, pls identify new and novel approaches to existing issues with would generate an immediate market uptake of the solution.
– PLEASE create 1 presentatio slides based on “The Problem Statement” and “The Solution for current KYC process from “NFC Finance”
– 1 presentation slide MUST technically show how “Face ID Technology” is a better product and how it technically works by reducing the steps