Case Study: ASB Bank achieves 5x more branch-free onboarding with ReadID NFC technology

ASB Bank boosts branch-free onboarding fivefold with ReadID

ASB Bank, a New Zealand financial institution, needed a more effective solution for remote customer onboarding. Their existing optical character recognition (OCR) process was cumbersome, resulted in many false negatives, and provided a poor user experience, ultimately forcing many customers to still visit a branch. They partnered with the vendor ReadID to implement its NFC technology.

ReadID's solution was integrated via its SaaS SDK into the ASB ID app. This provided a seamless and fantastic user experience for identity verification. The implementation led to a conversion rate of over 89% for customers starting the passport process and increased the number of customers who no longer need to visit a branch fivefold. ReadID enabled ASB to gain a significant competitive advantage in the Asia Pacific region.

ASB Bank