KBC Bank Ireland introduces app-based account opening

Completely unique to the Irish market, the app’s official launch follows months of development and testing with consumers here. The result is the fastest, easiest way to open a new bank account, paper-free.

The app is the latest in a series of product developments from KBC’s Innovation Hub in Dublin, where digital solutions are being created and tested for customers in Ireland and for rollout across other KBC markets in Central Europe. The Innovation Hub is part of KBC Group’s €1.5 billion investment in digital transformation.

Revolutionary New App – Step by Step

The app is available for both Apple and Android TM devices, and works in five easy steps:-
1. Download and open the KBC app. Enter your name, mobile phone number, date of birth and mother’s maiden name;
2. KBC will text you an activation code which you enter when prompted, along with your own personal security code;
3. Take a photograph of your driving licence, clearly displaying your photograph and address;
4. Take a selfie;
5. Confirm your personal details and legal questions… and add your digital debit card to Apple or Android Pay TM.

A unique customer feature of the app is the Instant Digital Debit Card that is sent straight to the customer’s phone the minute the account is opened. It means customers don’t have to wait days for a physical debit card to arrive before their account can be used. In another first for KBC customers, the app prompts the addition of their debit card instantly to their Digital Wallet. It means that Apple or Android Pay is ready to use with the account immediately. To prove the point, KBC is giving €5 to every new Current Account opened via the app that will be available to spend immediately.

So innovative is the development, KBC’s app has already attracted interest from some of the world’s largest tech companies, including the digital benchmarking agency 11:FS, the global payments provider TSYS, as well as Google (see details below).
KBC Bank Ireland’s Director of Innovation, Eddie Dillon, said: “We’re excited to launch KBC’s new mobile app which removes the perceived hassle, paperwork and time involved in opening a new bank account. We have co-designed this new capability with Irish consumers and are confident it represents a new market standard in personalised digital banking. Consumers will be amazed at just how quick and easy it is to use, and there’s €5 for every new Current Account holder to see for themselves.”

“We’ve been developing and testing the app from our Innovation Hub here in Dublin. Using KBC’s open IT platform meant we could collaborate with fintech partners to finesse different elements of the app. For customers, it means we’ve whittled down the time to open a new active bank account from over a week to just 5 minutes, entirely paper-free. It’s never been easier or more attractive to bank at KBC, and we’re excited for future developments to come.”

KBC Group designated Ireland as the Group’s digital frontrunner. The country’s young population, growing digital economy and high mobile penetration rates makes it the ideal testbed for new and innovative digital developments in personal banking. KBC Bank Ireland is already the first bank in Ireland to offer both Apple Pay and Android Pay. In a further development, it has been revealed that KBC will be the first bank in Ireland to offer payments via Fitbit. Latest statistics show that 78,000 customer payments were made via Android Pay and Apple Pay in the first half of the year alone, with six out of 10 KBC Current Accounts now opened via digital channels.

Commenting on KBC’s new app:

Pali Bhat, VP of Payments Products, Google said: “We’re excited to have worked with KBC to bring the simplicity and security of mobile payments to more KBC customers. Through the Android Pay API, we are able to offer KBC customers a very fast and easy experience in activating new and existing bank accounts for mobile payments.”

Meaghan Johnson, Research Director from 11:FS said: “We capture best in class customer journeys on our 11:FS Pulse platform, and from what we’ve seen to date, KBC’s new app and customer journey offers a complete end-to-end customer journey that is a true example of a digital service, rather than a digitised journey. Today, customers no longer wait days for a product or service they’ve bought online, so why should they wait a week for an ATM card before they can be up and running with their bank account? KBC is changing that, and we particularly like the use of Messenger as part of the onboarding process. It provides a welcome change from the traditional, and often clunky, multipage journeys of more traditional banks. KBC has tapped into something special here to encourage customers to switch in the market, and I can’t wait to see what comes next.”

Karim Ahmad, Executive Vice President of Global Product and Innovation at TSYS, said: “TSYS is delighted to have partnered with KBC Bank Ireland to launch Ireland’s first instant digital debit card. As a leading global payments provider, we can say with confidence that KBC Bank Ireland has created a cutting edge account opening and card production process, and delivered a seamless product experience for personal banking customers. We’re committed to supporting KBC on their digital journey, and all clients, as demand for the digitalisation of cards and payments intensifies worldwide.”