SCB joins forces with Counter Service to roll out “This is Me at 7-Eleven” service using facial recognition technology
Siam Commercial Bank (SCB) and Counter Service Co., Ltd., are moving forward yet again to extend the success of its banking agent service even further. Beginning in 2020, the two leading business players will be the first in Thailand to make a real transition to “Fully Digital Banking”. Created under the “This is me at 7-Eleven” concept, this will be the first time a facial recognition technology has been adopted to allow new-to-SCB customers to open a non-passbook savings bank account at 7-Eleven’s Counter Service using facial recognition technology to verify their identity. This eliminates the need to visit an SCB branch and will serve to pave the way for other financial services in the future, such as SCB Easy, credit & debit cards, Planet SCB cards, loans, investments, and much more. The service has passed testing in SCB’s own sandbox and will be readily available from today. It is expected that SCB will be able to add more than one million customers by year-end following the launch.
Speaking about the new service, SCB President Mrs. Apiphan Charoenanusorn said that, “This Digital Financial Partnership with Counter Service Co., Ltd. will extend the success of the Banking Agent service launched last year. This collaborative effort will help enhance the capabilities of our two firms in offering new banking service formats for customers, starting with simple cash deposit and withdrawal via Counter Service. It is gratifying to note that our Banking Agent service has been widely welcomed by customers, with a total volume of transactions worth 31.875 billion baht, consisting of 31.776 billion baht in deposits and 99.46 million baht in withdrawals, or 185.3 million baht per day on average. Our two firms have learned to understand our customers even more and based on our observations customers using the Banking Agent service at 7-Eleven may not have adopted a 100% purely digital lifestyle. They do not reject technology, while the tech savvy new generation may not have proper access to financial services. Therefore, we are reaching out to continually design new financial products and services driven by technology to gradually build familiarity in order to migrate these groups of customers to our digital platform and for the Bank to become a fully digital bank in the future.
Most recently, we have rolled out our upgraded ID confirmation via 7-Eleven’s Counter Service under the “This Is Me at 7-Eleven” concept using facial recognition technology for opening SCB non-passbook savings account (online). With the new concept, customers are no longer required to verify their identities at SCB branches. This will serve to pave the way for other services, such as SCB EASY, credit & debit card applications, Planet SCB cards, loans and investments, and more, and support new-to-bank customers and members of the younger generation. We have the competitive advantage of Counter Service in terms of service channels and nationwide locations, which will be an integral part in seamlessly driving the user experience from offline to online. The service has been thoroughly tested on SCB’s own sandbox and will be ready for service from today. SCB hopes that it will be able to expand customer base reaching one million customers by year-end after the launch of this ID verification at Counter Service,” concluded Mrs. Apiphan.
Mr. Weeradej Ackapolpanich Senior Vice President, Counter Service Co., Ltd. revealed that, “Prior to this, SCB and Counter Service joined together to facilitate cash deposit and withdrawal using SCB account numbers and the SCB EASY Application, including loan services at all 7-Eleven branches. The service has been welcomed by a large number of customers. This new collaboration will make Counter Service a leading Banking Agent in Thailand. We are very pleased to be trusted by SCB to launch the new service together. This will mark the first time that facial recognition technology is adopted for ID verification, equivalent to the stringent Identity Assurance Level of 2.3 or IAL 2.3. Customers can use only an ID card to verify their identity for opening a non-passbook savings account (online) and to use other services without having to visit a bank branch. The new service is carefully designed to support changing customer behavior, allowing more flexibility and offering easy access to the Bank with service points at Counter Service at 7-Eleven available 24 hours.”