DNP Adds Card Loan Reuqest Function to Smart Phone Bank Account Application
Dai Nippon Printing Co., Ltd. (DNP) will offer an application facilitating the opening of new bank accounts and card loan requests via smart phones in a carefree manner. The new service will commence September 11, and the new standardized approach will allow banks to commence smart phone based services with a shorter lead time and at lower costs than at present.
Since February 2014, DNP has offered an application that facilitates the opening of new bank accounts by forwarding identity verification image data, such as snapshots of driving licenses, and new account requests via smart phones. This application has been adopted by various banks in Japan, from megabank to regional banks. In March 2015, DNP developed, and commenced offering, an application that shortened lead times and reduced costs by standardizing the basic functions necessary for opening a new bank account. In this latest development, DNP has now added a card loan request function in answer to demands from consumers and banks for a system allowing for both the opening of new bank accounts and requests for card loans.
Existing applications facilitate the opening new bank accounts, by the simple forwarding via smart phones, of identity verification image data, such as snapshots of driving licenses, and new account request data, including names and addresses. By standardizing these basic functions, it is now possible to adopt the application at lower costs and with a shorter lead time compared to cases where a financial institution develops such applications on a case-by-case basis. Apart from being able to set screen color to match the corporate image color, it is also possible to set such elements as the company or service logo, consent and instruction notes, along with the branch navigation menu in line with the specifications of a particular bank.
In this latest development, DNP has added a function facilitating the simultaneous opening of new bank accounts and requests for card loans.
- Compared to cases of developing applications on a case-by-case basis, it is possible to adopt the augmented application with a shorter lead time and at lower costs to the financial institution. In addition, it is also possible to reduce costs, such as those involving operational tests, necessary when version upgrades are made to smart phone operating systems.
- The augmented application uses the cloud-based driving license optical character reader (OCR) developed by Toshiba Corporation. When opening a new bank account or registering a change of address, the application uses the OCR function to read-off image data, such as snapshots of driving licenses. And by automatically creating text data from the submitted data, such as names, addresses and date of birth, it is possible to reduce input time and errors.
- By encrypting and forwarding this data via SSL communications it has also been possible to boost security.
Looking ahead, DNP aims for total sales from the bank account service targeting smart phones and related products of 400 million yen in the three years to FY 2017.