The Challenge:

Following an ambitious digital transformation strategy, UniCredit Bulbank wanted to create a digital process that allows new and existing customers to access digital banking services without having to visit a branch. The process had to answer growing customer demands for fast and simple UX, while at the same time, providing complete regulatory compliance and security.
 

The Solution:

The UniCredit Bulbank team chose Evrotrust as their identity verification and e-signing vendor. Evrotrust is a qualified trust services provider under eIDAS, and its solution meets the highest regulatory requirements. Bulbank Mobile users can now open an account and issue a debit card entirely remotely following an automated identification process using an ID document and a selfie, followed by signing an agreement with the bank using a qualified electronic signature. Evrotrust SDK integration allows for the identification and e-signing services to be seamlessly integrated into Bulbank's app, so the customer journey is frictionless, and the user never has to leave the mobile banking application. The solution is fully KYC and AML compliant and prevents advanced fraud.

The Result:

The new end-to-end digital process has settled the grounds for transforming Bulbank Mobile into a unified digital tool for remote functions and the signing of documents. Customers' identity can now be verified within a couple of minutes which leads to improvement in the time needed to onboard a new user. Furthermore, customer acquisition costs have also been reduced, allowing the bank to allocate resources more efficiently. With a secure and compliant solution by Evrotrust, Bulbank continues to build customer confidence and maintain a reputation of trustworthiness.

"Digital banking is an increasingly preferred and natural channel for our customers. In this way, we save one of the most valuable resources - time. But all this will be impossible without the option to finalize the whole process by signing remotely. With such a decision, we improved the customer experience and strengthened our leadership position as a digital bank," said Victor Stoyanov, Head of Alternative Channels."

Viktor Stoyanov, Head Alternative Channels, UniCredit Bulbank Bulgaria

About UniCredit Bulbank

UniCredit Bulbank is the leading bank in Bulgaria and a member of UniCredit, a successful Pan-European Commercial Bank. UniCredit Bulbank provides solutions for all challenges and opportunities the clients face in their everyday activities. The bank strives to be a partner, easy to work with and to create real value for our customers and contractors.