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Instant KYC - almostBerlin, October 18, 2017
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Jack LancasterProduct Owner
Dr. Lorenz JünglingCPO, former COO
Timo MeyerExpansion Lead
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€5.2bn1.5k+500k+
New users per dayUser Base Transaction Volume
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What is KYC?Identification and verification of users
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Why do we do it?Regulatory requirementPrevent money launderingManage risk
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Signup Completed
Email Confirmed
Product Selected
KYC Started
KYC Completed
Card Activated
Financially Active
KYC - the toughest part of the funnel
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The old wayKYC
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Traditional KYC
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Traditional KYCNot user friendly
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Traditional KYCNot user friendlyNot mobile
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Traditional KYCNot user friendlyNot mobileNot scalable
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The N26 wayKYC
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KYC & Secure AccountAcquisition Sign-up
AppOnboarding
€ €
CardActivation
FirstTransactions
KYC - the N26 wayGatekeeper to the app
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KYC - the N26 way
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KYC - the N26 way
Real TimeVerifies users in ~8 minutes
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KYC - the N26 way
Available in five languagesLocalised onboarding for key markets
Real TimeVerifies users in ~8 minutes
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KYC - the N26 way
Mobile experienceOn brand with being The Mobile Bank
Real TimeVerifies users in ~8 minutes
Available in five languagesLocalised onboarding for key markets
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KYC - the N26 way
Real TimeVerifies users in ~8 minutes
Available in five languagesLocalised onboarding for key markets
Mobile experienceOn brand with being The Mobile Bank
Comparatively high conversion76% users complete KYC
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Operating at scaleKYC
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Operating at scaleLarge increase in initiated calls over the last 12 months
8,000
12,000
16,000
20,000
24,000
28,000
32,000
09/16 10/16 11/16 12/16 01/17 02/17 03/17 04/17 05/17 06/17 07/17 08/17 09/17
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8,000
12,000
16,000
20,000
24,000
28,000
32,000
09/16 10/16 11/16 12/16 01/17 02/17 03/17 04/17 05/17 06/17 07/17 08/17 09/17
Actions to resolve thisLarge increase in initiated calls over the last 12 months
OptimiseProduct
Handle Peaks
Insource Agents
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Insource Agents
Own the touchpoint
Benchmark services
Ensure stable SLAs
Individualise experience
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Insourcing of KYC % of finished inhouse identifications
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Understand organic peaks
Prepare for external events
Flexible agents
Handle Peaks
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08:00
Operations in KYCImprove handling of peaks
10:00 12:00 14:00 16:00 18:00 20:00 22:00
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Understand organic peaks
Prepare for external events
Flexible agents
Handle Peaks
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Prepare documents
Determine eligibility through document
Test connection
OptimiseProduct
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Nationality
Optimising for operationsPrepare documents
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Optimising for operationsPrepare documents
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Prepare documents
Determine eligibility through document
Test connection
OptimiseProduct
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Nationality +
Optimising for operationsDetermine eligibility through document
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Prepare documents
Determine eligibility through document
Test connection
OptimiseProduct
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Optimising for operationsTest connection
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Q&ABerlin, October 18, 2017