NCB signs cooperation agreement with RAR Center to deploy account opening and information authentication via VNeiD app

On September 18, the Center for Research, Application of Population Data and Citizen Identification (RAR - under the National Population Data Centre, the Police Department on Administrative Management of Social Order, the Ministry of Public Security) and National Citizen Commercial Joint Stock Bank (NCB) signed a cooperation agreement to deploy identification and authentication features via VNeID on NCB iziMobile.

The event was attended by Major General Nguyen Ngoc Cuong, Director of the Police Department on Administrative Management of Social Order, Major Tran Duy Hien, Director of RAR, leaders of NCB Bank and representatives of partners.

NCB and RAR Center sign a cooperation agreement to deploy identification and authentication features via VNeID on NCB iziMobile

Through this collaboration, NCB and RAR will integrate the functionalities of the VNeID electronic identification application with the NCB iziMobile digital banking platform for individual clients. Thus, advocating for the benefits of applications that facilitate the convenient opening of bank accounts for citizens, enhance user experience, while ensuring precision, safety, security, and reducing the time required for identification and biometric authentication during the use of electronic banking services.

Citizens can create a bank account by either enrolling at the counter or using the NCB iziMobile application. Additionally, they may log into the VNeID application, pick a financial service, and adhere to the provided instructions. Electronic identification during account opening, referred to as eKYC, and biometric authentication will be conducted automatically with client consent, eliminating the necessity for a physical citizen ID or an in-person visit to a bank branch or transaction office.

Many impressive financial experiences at the NCB iziMobile app

Consequently, once this function is activated, all citizens who have installed and authenticated two-step verification on the VNeID app may effortlessly create a payment account and use financial goods and services offered by NCB bank swiftly and efficiently with a few activities on their cellphones. This integration enables NCB customers to execute biometric authentication on the banking application in a straightforward and convenient manner, as per Decision 2345/QD-NHNN, through the linkage between the NCB iziMobile application and the VNeiD application, eliminating the necessity for a physical chip-embedded citizen identification card as previously required.

To date, NCB is the inaugural bank to formally implement this service in collaboration with the RAR Center, enhancing the banking experience for the community. In the imminent future, the RAR and NCB are anticipated to collaborate in researching and implementing numerous additional features to address the varied needs of individuals and facilitate the conversion of books and cashless transactions, such as bill payments, receipt of social security funds, and the initiation of credit cards or bank loans, through VNeID on the NCB iziMobile application.

TMajor General Nguyen Ngoc Cuong, Director of the Police Department on Administrative Management of Social Order spoke at the Signing Ceremony

During the event, Major General Nguyen Ngoc Cuong, Director of the Police Department for Administrative Management of Social Order, stated that the implementation of the electronic identification and authentication system in 2024 is a crucial objective and responsibility in the national digital transformation process. Simultaneously, he emphasized the significant role of the bank in the digital transformation process, acknowledging the initial positive and exceptional outcomes between the RAR Center and NCB in the development of products, services, and utilities utilizing population data, citizen identification, and digital services, enabling individuals, organizations, and businesses to benefit from digital utilities.

The NCB representative stated that the collaboration with RAR marks a significant advancement in digital transformation, with the objective of enhancing and upgrading the user experience on the NCB iziMobile app. The collaboration with the RAR Center will assist NCB in bolstering the security and safety of its system during the operation, development, and enhancement of products and services, particularly as NCB advances the implementation of financial products and services in the digital realm in accordance with its new strategy.

Mr. Ta Kieu Hung, CEO of NCB, spoke at the signing ceremony

“The implementation and formal launch of the identity and authentication function using VNeID on NCB iziMobile, coinciding with the bank's 29th anniversary, is a present for our clients. Simultaneously, it illustrates NCB's resolve and dedication in the pursuit of new standards to enhance societal growth," said Mr. Ta Kieu Hung, CEO of NCB.

Over the past two years, NCB has consistently augmented its investment in infrastructure and technological solutions, collaborating with premier global and regional technology partners such as GCP, E&Y, KPMG, CMC Telecom, and LUMIQ, as well as Zoho Corporation, to execute intricate digital transformation initiatives, addressing comprehensive digital transformation and advancing the bank's new strategy.