Apply TVC in 15 minutes with Fidelity's eTVC service
Save your customers' time to keep them better connected
To encourage MPF members to take a dive into Fidelity's MFP ecosystem, we introduced the first-in-market fully self-served eTVC service to customers. Through shortening the mundane processes in account opening using OCR and identity verification tech, we save customers more time to handle more important tasks via Fidelity's mobile app as we keep them better engaged with a full range of MPF offerings from the brand.fin
SERVICES
INDUSTRY
LEAD TIME
9 months
YEAR
2020
Anytime, anywhere service
Around-the-clock channel innovations
Time compressor
Up to 90% faster in account opening
Everything in real-time
Bring technologies to the market
To win a niche market, you'd need killer features that fulfill people's instant gratification for wanting to nail things down.
Traditional communication models (i.e. mostly paperwork and manual labor) used in the MPF market could take days and even up to months for members to complete tasks as simple as account opening. With TVC launched around the tax season, it's understandable that customers would want to do whatever it takes to save more tax in the fastest fashion. Opening a TVC account quick somewhat fits into that blueprint at the back of the mind, triggering gratification when the task can be done almost instantaneously.
To facilitate a quicker account opening process, we identified major roadblocks that hindered the process in traditional model, and they were manual forming filling, identity verification, and payment. As such, we brought in HKID authentication, face recognition, and instant payment to speed things up throughout the account application process.
HKID verification
Complying with security standards equivalent to bank standards, the application page adopted OCR (Optical Character Recognition) technology to automate form filling. Something that took around 5 to 7 minutes now takes no time at all.
Face recognition for identity verification
In the past, identity verification had to be done offline in a service centre (which could take hours), but not anymore, with the face recognition technology, we enable contactless and boundless do-it-at-home verification process for customers in 5 minutes while mitigating the risk of false identity and identity theft.
Instant payment through FPS
If you are a traditionalist, you can still go by cheque payment of bank transfer, but in our enhanced user flow, we included the new FPS (Faster Payment System) service to enable real-time bank transfer to shorten handling time and minimize blunders.
Faster is better, for sure. But first and foremost, help your customers adapt to new technologies.
Users' acceptance towards new technologies can at times pose a challenge to a development process of a service, even when new technologies requiring to adapt to changes could likely enhance their experiences. To eliminate bottlenecks for users, before, during, and after the release of the eTVC services, we have conducted user-centric design thinking workshop, iterative agile scrum delivery and incremental releases to help customers adjust to our enhanced Fidelity journey.
User-centric design thinking workshop
Explore and synthesize customer-best journey with the management team and stakeholders. The process is iterated thru end-user testing.
Iterative agile scrum delivery model
Formulate a double scrum team with the MPF service trustee to keep testing, iterating and delivering the customer-best solutions.
Incremental releases
Make trial releases through learning user behaviors. Monitor and continue to make iterative adjustments to facilitate an enhanced journey implementation.
Credits
Vincent Ma / Project Lead
Rachel Chan / Project Manager
Wingyee Mok / UI Design Lead
Vikki Chan / UI Designer
Jasper Wu / Senior Copywriter
Bill Yu / Full Stack Developer
Results
- Bronze / Best Idea – CX/UX / MARKies 2021
- Bronze / Best Idea – Digital Solution / MARKies 2021
- Bronze / Best Use of Technology / MARKies 2021
- MPF Ratings – Scheme of the Year 2020
- Best New Innovation 2020
- Best Use of Technology 2020
- Best Comms & Education 2020
- The account opening process only takes 15 minutes in mobile application.
- More than 80% of TVC accounts are opened via Fidelity's mobile application.
