Background of CardX
Card X Co., Ltd. (CardX) is a financial services company under the SCBX Group, specializing in credit cards and personal loans. At the end of 2022, several credit card and personal loan operations were transferred from Siam Commercial Bank to Card X Co., Ltd. CardX is committed to leveraging AI technology to revolutionize the credit card and personal loan experience through innovative platforms, streamlined loan consideration, and secure debt repayment processes. These enhancements aim to provide accessible, easy, and secure financial services, granting unlimited financial freedom to every customer. As a key driver of positive economic change in Thailand, CardX currently serves approximately 3.06 million members, with a total loan portfolio valued at around 115.5 billion baht.
CardX’s Challenges and Reasons for Choosing SCB TechX’s eKYC Service
Initially, customers who wanted to apply for CardX’s credit cards or personal loans were required to complete identity verification (eKYC) via the SCB EASY application. This process involved visiting an SCB branch to verify ID cards using the dip chip system. However, some customers faced difficulties traveling to a bank branch, and others who had not previously used SCB products could not use the SCB EASY application for identity verification. This cumbersome customer journey led to a drop-off in the onboarding process, negatively impacting CardX’s credit card and personal loan applications.
To address this issue, CardX considered adding an eKYC channel via NDID (National Digital ID) as an alternative option. However, developing a system to connect directly to NDID required a substantial budget, a lengthy development period, and a large team. Therefore, CardX opted to use SCB TechX’s NDID Proxy service, which provides NDID connection services. This decision allowed CardX to avoid the high costs and extended development time associated with building a direct connection to NDID. Additionally, CardX is confident in SCB TechX’s excellent after-sales service, supported by a Technical Support team of expert personnel ready to provide prompt assistance in case of any issues.
Results After Using the Service
After CardX added the identity verification channel via NDID, customers found it more convenient to apply for credit cards and personal loans, as they no longer needed to travel to a bank branch for identity verification. Additionally, new customers who had never used SCB products before and did not have the SCB EASY application could now complete eKYC via NDID. This change reduced the drop-off rate in the onboarding process and increased the number of customers applying for credit cards and personal loans, particularly among new customers who had never been SCB customers before. This aligns with the company’s strategy to expand its customer base to new groups beyond existing SCB customers. Furthermore, the SCB TechX team provided timely support, whether it was sending information or identifying the causes of various issues when unusual cases occurred.
If you are interested in SCB TechX’s eKYC Solutions, please contact our team of experts at:
Email contact@scbtechx.io
Website www.scbtechx.io/th/services-products/ekyc/
