ATB Financial has joined forces with KPMG in Canada and global fintech matchmaking firm, Matchi to run a Customer Onboarding Innovation Challenge that aims to reimagine customer onboarding and management through collaboration with fintech firms.
“ATB believes in reimagining banking and we’re always on the lookout for transformative new experiences to offer our customers,” said James Gamage, ATB’s Managing Director, Innovation. “That’s why we’re excited to partner with KPMG & Matchi to expand our reach into the global fintech community and discover novel new propositions to make banking work for people.”
The Customer Onboarding Global Innovation Challenge will close for entry on Wednesday 19 April 2017 at 23:59 MST (Canada Mountain Standard Time). The challenge is free to enter and is open to any firm that has developed and built a solution that aligns to one of the four challenge categories:
Challenge Category 1: Seamless KYC
ATB is looking for an innovative solution that delivers a seamless KYC process across channels and devices:
• The solution should transform the customer experience by reimagining the capture of client data and profile creation while being smart, simple and helpful.
• The solution should ensure adherence to KYC rules across channels and products when onboarding new customers.
• The solution should be easy to reconfigure in response to regulatory changes and / or changes to business requirements.
• Ideally the solution will be applicable to both retail and small & medium sized business banking clients.
Challenge Category 2: Automate Onboarding
ATB is looking for a solution that helps automate and optimize onboarding and fulfilment processes:
• The solution should automate the collection of relevant data as needed for product fulfilment and automate the internal sharing of existing client data across ATB teams (e.g. credit application).
• The solution will be applied to small & medium sized business banking clients and where possible, retail clients.
Challenge Category 3: Ecosystem Information Flow
ATB is looking for a solution to more efficiently manage the interaction and flow of information within its ecosystem of service providers.
• In particular, the solution should address the movement of documents between parties in real estate/mortgage transactions (i.e. realtors, solicitors, appraisers, financial institutions).
• Solution should be extendable to other classes of service providers such as credit card and item processing etc.
Challenge Category 4: Emerging Identity Tech
ATB is looking for a solution that leverages advanced and emerging technologies to support identity management for the future:
• Specifically, leading edge solutions that will become commercialized over the next 3 - 5 years
• The solution may include technologies like blockchain, advanced biometrics, wearables, internet of things and beyond.
Entry into the Customer Onboarding Global Innovation Challenge is exclusively through the Matchi portal at https://matchi.biz/atbchallenge
On the Matchi site, prospective entrants can find more information on the entry criteria, process and timeline before logging in (or signing up) to submit an overview of their solution, and motivate why it should be selected for this unique opportunity.
“The Canadian banking system is recognized as one of the strongest in the world and has been ranked the soundest by the World Economic Forum for seven consecutive years. Canada currently has a number of institutions ranked in the global top 50 and is a world leading innovator in the financial services industry. This fintech challenge is a unique opportunity to promote innovative solutions to this market and support major Canadian financial institutions in their strategies, to enhance the customer experience and achieve new levels of operational performance.” - David Bolton, Financial Services Partner, KPMG.
All entries will be validated by KPMG and Matchi analysts and then individually scored by a panel of executives from ATB Financial. The highest ranking solutions in each category will be invited to pitch their innovation to a panel from ATB Financial, KPMG and Matchi who will, in turn select at least two as the ultimate winners.
The winners of the Customer Onboarding Global Innovation Challenge will be given the opportunity to prove the value and impact of their solution with a paid proof-of-concept project at ATB Financial with a view to implementation and roll out within the Canadian Financial Institution.
"We're excited to be working with ATB Financial and KPMG Canada to help them source high-quality, proven fintech solutions from around the world that can have a real impact, for the business, for their innovation agenda, and ultimately for ATB customers. This is a great opportunity for fintech firms with great solutions from around the world to work with a truly innovative and customer-focused bank in the Canadian market.” - David Milligan, CEO, Matchi