Deputy general director of Viet Capital Bank, Le Van Be Muoi (left), and general director of VNG, Le Hong Minh, at the signing ceremony in HCM City on June 10. — Photo courtesy of the bank

Viet Capital Bank has signed a deal with VNG Corporation to install the latter’s TrueID solution to verify customers’ identity electronically via a mobile application.

TrueID is an electronic know your customers (eKYC) solution was developed by VNG’s engineers using artificial intelligence and facial and optical character recognition technologies.

Made in Viet Nam, it is considered the leading anti-fraud eKYC available in the market today.

It is available on the bank’s app, transaction software at its counters and on the apps of its intermediary payment and fintech partners.

Speaking at the signing event, Le Hong Minh, chairman and general director of VNG, said, “eKYC has been widely deployed and become the standard in the banking and finance industries in many countries, including Viet Nam.

“TrueID was fully developed by a team of Vietnamese experts and engineers at VNG, including those who have many years of experience in Silicon Valley [in the US] in the field of eKYC.”

Le Van Be Muoi, deputy general director of Viet Capital Bank, said tying up with partners who are big and reputed technology companies to adopt effective digital banking solutions is one of the bank’s top priorities to speed up its modernisation and enhance customer experience.

“The implementation of VNG’s eKYC TrueID solution also marks an important step in the willingness to support customers to open online payment accounts in order to conduct financial transactions in a convenient, easy and safe manner." — VNS