x2.5 faster account opening after implementing a web form to approve/reject account opening requests

Innowise has developed an application form to gather personal information about prospective corporate customers and approve/reject account opening requests.

Customer

Industry

Banking, FinTech

Region

Qatar

Client since

2022

The customer is a Qatar bank committed to promoting sustainable development in the region through providing a wide range of business, investment, government, and international services.

Detailed information about the client cannot be disclosed under the provisions of the NDA.

Challenge: A drastic decline in the number of account opening requests for the customer seeking banking app development services

Our client has provided banking services to startups, large corporations, and the public sector across Qatar and worldwide for over 20 years. However, they recently observed a significant decline in the number of requests for opening banking accounts from companies. In addition, they wanted a more secure tool to verify the identity of the individuals or businesses opening the account to prevent fraud and comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. Since the client had previously collaborated with Innowise on a project, they approached us to address this challenge of attracting more corporate customers and ensuring decent cyber security.

Solution: Multi-tier web form for account opening with field validation and strict data protection

Innowise has developed a multi-tier web form for account opening that aligns with the client's requirements and best practices in banking development. The form includes preconditions such as the client's origin, valid email and phone numbers, language and currency preferences, and acceptable file formats. The user also needs to indicate their license type and number to prove their legal ability to conduct transactions and store funds.

Application form

Once the preconditions are met, the system generates a one-time password to verify the user’s identity and prevent hacking. After approval, the user can fill in the necessary forms, specifying their business details (company name, tax number, nature of business, initial deposit, etc.), financial details (cash sales size, number of cheque transactions, etc.), products, shareholders, contact persons, related parties, and FATCA and CRS terms. They can also attach files if necessary.

Data processing

After submitting and processing the information, the bank may contact potential corporate clients to rectify any controversial moments or request additional information. The bank will then schedule an appointment with the potential client in one of the branches to discuss the remaining terms.

During the project, the main challenge was verifying and validating different forms according to corporate banking procedures. In addition, Innowise’s specialists employed modern encryption algorithms to protect customer’s sensitive data and eliminate the risk of breaches.

Technologies

Back-end

.NET

Front-end

Flutter Web, Swagger, Postman

Database

Microsoft SQL

Web server

IIS

Security

TLS

Process

Because Innowise has successfully worked with this client in the past, our project team did not need to go through a new onboarding process. Because the customer needed a market-ready solution very soon, we were tasked with delivering the web application under tight deadlines.

The project aimed to ensure logical interconnections between entered data based on customer restrictions and banking regulations. With up-to-date software development approaches and deep subject matter expertise, our banking app developers delved deeply into the project, utilizing Flutter to build interfaces with automatic data validation.

During the project, the team stayed tuned with the customer project vision, accommodating changes without scope creep. The team held daily meetups to discuss intermediate progress, clarify responsibilities via Google Meet, assign tasks, and track project completion in Jira. Overall, the project was managed by Scrum methodology with bi-weekly sprints.

Upon receiving feedback from the client, our project team made adjustments and corrected minor errors. Innowise successfully completed the project within a tight deadline and delivered a full-fledged solution. Currently, the web form gathers information about prospective corporate customers and approves/rejects account opening requests based on the data provided.

Team

Project Manager

Back-End Developers

Front-End Developers

QA Engineer

Results: 25% reduced paperwork and the streamlined process of account opening for clients from the comfort of their homes

Innowise has created a digital banking web form that streamlines the process of account opening. Our team has developed a solution that eliminates the need to visit a bank branch or deal with cumbersome paperwork. With this web form, users can easily become corporate clients of one of Qatar’s largest banks from the comfort of their own homes. This approach offers users a convenient, speedy, and secure account opening experience.

Additionally, our digital opening form is less expensive for the customer than traditional paper-based processes, removing the need for printed and mailed paper forms. With automated field validation, account opening forms ensure that missing or incorrect information is checked before submission, reducing human error.

Through encryption, secure servers, and other security measures, we guarantee all-around data protection, eliminating the slightest risk of data leakage.

Overall, the web solution developed by Innowise resulted in a streamlined account opening process and a well-established legally-compliant relationship between the bank and the account holders.

Project duration

February 2023 - Ongoing

x2.5

faster account opening

25%

paperwork decrease

Related cases

Contact us!

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What happens next?

Having received and processed your request, we will get back to you shortly to detail your project needs and sign an NDA to ensure the confidentiality of information.

After examining requirements, our analysts and developers devise a project proposal with the scope of works, team size, time, and cost estimates.

We arrange a meeting with you to discuss the offer and come to an agreement.

We sign a contract and start working on your project as quickly as possible.

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x2.5 faster account opening after implementing a web form to approve/reject account opening requests

Customer

Challenge: A drastic decline in the number of account opening requests for the customer seeking banking app development services

Solution: Multi-tier web form for account opening with field validation and strict data protection

Technologies

Process

Team

Results: 25% reduced paperwork and the streamlined process of account opening for clients from the comfort of their homes

Related cases

Contact us!

What happens next?

Need other services?

Let^●s develop
software together!

Close

x2.5 faster account opening after implementing a web form to approve/reject account opening requests

Customer

Challenge: A drastic decline in the number of account opening requests for the customer seeking banking app development services

Solution: Multi-tier web form for account opening with field validation and strict data protection

Technologies

Process

Team

Results: 25% reduced paperwork and the streamlined process of account opening for clients from the comfort of their homes

Related cases

Contact us!

What happens next?

Need other services?

Let●s develop software together!

Close

Let^●s develop
software together!