MANAMA: Bahrain-based Aion Digital has entered into a partnership with Daon to offer secure, frictionless digital onboarding that will boost customer acquisition, eliminate fraud and ensure AML and KYC compliance.
The digital onboarding platform not only allows customers to open bank account in under five minutes, but has also enabled banks to reduce the cost of customer acquisition by 50 per cent.
“Our partnership with Daon will allow banks to enhance their first interactions with customers and create opportunities for existing customers to begin using new services,” said Aion Digital chief executive Ashar Nazim.
“With Daon’s seamless ‘two-in-one’ platform for digital onboarding and authentication, banks can embed market-leading features, reduce abandonment, cut operating costs and position themselves as innovators.”
The platform has been well-received by regulators and also marks a significant step for moving towards a single GCC banking market.
In July, Daon launched a new release of its IdentityX Digital Onboarding solution, leveraging two decades of experience in state-of-the-art biometrics and biometric liveness to build the most frictionless and fraud-resistant customer onboarding experience ever conceived.
“We are pleased to partner with a visionary group like Aion to bring world-class biometrics and identity assurance to the GCC region,” said Daon chief executive Tom Grissen.
“Daon and Aion will deliver a joint solution that transforms digital onboarding practices and satisfies even the most highly regulated industries and entities while delighting millions of customers across GCC’s thriving markets and beyond.”
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