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Instant KYC - almostBerlin, October 18, 2017
Jack LancasterProduct Owner
Dr. Lorenz JünglingCPO, former COO
Timo MeyerExpansion Lead
€5.2bn1.5k+500k+
New users per dayUser Base Transaction Volume
What is KYC?Identification and verification of users
Why do we do it?Regulatory requirementPrevent money launderingManage risk
Signup Completed
Email Confirmed
Product Selected
KYC Started
KYC Completed
Card Activated
Financially Active
KYC - the toughest part of the funnel
The old wayKYC
Traditional KYC
Traditional KYCNot user friendly
Traditional KYCNot user friendlyNot mobile
Traditional KYCNot user friendlyNot mobileNot scalable
The N26 wayKYC
KYC & Secure AccountAcquisition Sign-up
AppOnboarding
€ €
CardActivation
FirstTransactions
KYC - the N26 wayGatekeeper to the app
1515
KYC - the N26 way
1616
KYC - the N26 way
Real TimeVerifies users in ~8 minutes
1717
KYC - the N26 way
Available in five languagesLocalised onboarding for key markets
Real TimeVerifies users in ~8 minutes
1818
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
1919
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
Operating at scaleKYC
2121
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
2222
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
2323
Insource Agents
Own the touchpoint
Benchmark services
Ensure stable SLAs
Individualise experience
Insourcing of KYC % of finished inhouse identifications
2525
Understand organic peaks
Prepare for external events
Flexible agents
Handle Peaks
08:00
Operations in KYCImprove handling of peaks
10:00 12:00 14:00 16:00 18:00 20:00 22:00
2727
Understand organic peaks
Prepare for external events
Flexible agents
Handle Peaks
2828
Prepare documents
Determine eligibility through document
Test connection
OptimiseProduct
2929
Nationality
Optimising for operationsPrepare documents
3030
Optimising for operationsPrepare documents
3131
Prepare documents
Determine eligibility through document
Test connection
OptimiseProduct
3232
Nationality +
Optimising for operationsDetermine eligibility through document
3333
Prepare documents
Determine eligibility through document
Test connection
OptimiseProduct
3434
Optimising for operationsTest connection
35
Q&ABerlin, October 18, 2017
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