JACCS Enhances Consumer Loan Experience with FPT eID Solution

Introduction to JACCS

JACCS Co., Ltd. is one of Japan's leading consumer finance companies with over 70 years of operational history. In Vietnam, JACCS has been present since 2010 and has quickly become a reputable consumer finance institution in the market. The company provides diverse loan products including consumer loans, auto loans, and loans for electronic and household appliances.

JACCS Vietnam currently serves millions of customers through a nationwide network with more than 30 branches and transaction points. With the vision of becoming the leading consumer finance company in Vietnam, JACCS always focuses on technology and process innovation to enhance customer experience while ensuring operational safety.

Challenges

Before implementing the FPT eID solution, JACCS faced many challenges in customer verification and loan application approval:

Fraudulent documents, fake accounts, automated account creation tools

• Increasing number of fraudulent applications with sophisticated techniques difficult to detect with the naked eye

• Emergence of automated tools used to create multiple fake accounts for fraudulent purposes

• Difficulty in accurately identifying the true identity of loan applicants

• Financial loss risk from approving loans to fraudulent applicants

Time-consuming verification and loan approval process

• Manual verification procedures

• Multiple cross-checks between departments to verify document authenticity

• Staff needed to make direct calls to verify customer information

• Extended loan approval time reducing customer experience and conversion rates

High personnel costs supporting customers due to offline, complex application processes

• Each branch needed 3-5 dedicated staff for receiving and checking applications

• Complex paperwork process with many manually completed forms

• High operational costs for storing and managing paper documents

• Resources spent explaining processes and guiding customers to complete applications

FPT eID Solution

To address these challenges, JACCS partnered with FPT IS to implement the FPT eID digital authentication solution, including advanced technologies:

FPT IDCheck Technology: Automated document verification solution capable of:

• Recognizing and extracting information from over 200 different types of documents

• Detecting signs of forgery on ID cards, passports, and other identification documents

• Checking document integrity and authenticity

• Automatically cross-referencing information with official databases

eKYC (Electronic Know Your Customer) Technology:

• Facial authentication through biometric recognition technology

• Direct comparison of portrait photos with images on documents

• Liveness detection to prevent spoofing

• Fully automated identity verification process completed within minutes

The FPT eID solution helped JACCS build an entirely new customer verification process:

1. Customers download the app and create an account: With just a few simple steps on a smartphone

2. Document verification:

• Take photos of ID cards through the app

• System automatically extracts and verifies information

• Checks document authenticity within seconds

3. Facial verification:

• Record a short video or take selfies as instructed

• Technology matches face with the photo on identification documents

• Liveness detection to prevent fraud

4. Automatic approval:

• AI system evaluates and scores applications

• Cases meeting safety thresholds are automatically approved

• Only special cases require staff intervention

Results Achieved

After implementing FPT eID, JACCS recorded positive results:

• Enhanced information security: Significantly reduced cases of document forgery and fake accounts thanks to modern facial and document authentication technology.

• Process optimization: Application verification time reduced from several days to just minutes, accelerating loan approval speed and improving customer experience.

• Cost savings: Significantly reduced personnel costs due to digitized processes; customers can complete verification steps online without visiting offices.

• Expanded business opportunities: With fast and reliable verification processes, JACCS has been able to reach new customer segments, especially tech-savvy young customers.

Long-term Benefits

The implementation of FPT eID not only solved immediate issues but also brought many long-term benefits to JACCS:

• Enhanced competitiveness: JACCS became one of the pioneering finance companies applying digital authentication technology in Vietnam.

• Preparation for the digital future: The system is designed for easy upgrades and integration with new technologies.

• Regulatory compliance: The solution meets legal requirements and financial industry regulations on customer authentication and anti-money laundering.

The collaborative project between JACCS and FPT IS demonstrates the importance of digital transformation in addressing business challenges, improving operational efficiency, and enhancing customer experience in the banking and finance sector.

Mr. Takashi Watanabe, General Director of JACCS Vietnam, shared: "The implementation of the FPT eID solution not only helps us address challenges in customer authentication but also lays the foundation for JACCS's comprehensive digital transformation strategy in the Vietnamese market. We have witnessed significant improvements in operational efficiency and customer experience."

With the success of this project, JACCS has affirmed its position as one of the pioneering consumer finance companies in applying digital technology in Vietnam, while setting new standards for the consumer finance industry in the digital era.