DO you remember the first time you opened your personal bank account? The long queue, the numerous forms to fill and the time it took just to open a savings account?
Imagine this instead, a brand new digital journey, say on your first day at university. You are greeted by a smiling blue digital assistant called KiplePay. You snap a picture of your MyKad, then take a selfie to register for an account at the university.
After a few minutes, you receive a notification telling you that your account is ready and you have been verified as a new student.
Just before you step outside, you receive another notification showing all the points of interest around campus.
As you explore, it helps you get acclimatised to life out of the comfort zone of home and follows you wherever you go. It unlocks your access to everything on campus – your hostel, library, university portal, classes and examination halls.
It even manages your finances for you. You can make loan payments and receive your financial aid through KiplePay (zakat, student and staff allowance, etc).
You can choose to feed it more credits via online banking, credit or debit card.
Your life is well managed with KiplePay which serves as your personal assistant at university. It helps you book events, keep track of club membership payment, pay for laundry services, access university bookstores and even helps you with public transport tickets on campus.
When you get some time off, KiplePay may also get you your first part time job with the possibility of depositing your paycheque into an ewallet. You trust it to keep your data safe as everything is verified by the university and secured by KiplePay.
Memories of yourself as a student include how you spend and save money.
The ever diligent KiplePay app has all merchants around campus sorted out. A great way to stretch your cash as a student is to use KiplePay and receive loyalty benefits.
Through the app, you will get great campus discounts, coupons, promotions as well as loyalty memberships.
Merchants serving the campus vicinity using KiplePay offer you cashbacks, all stored within the app as credits.
Loyalty points that you collect are also transferred to the ewallet as credits which can be used to redeem and pay for items such as mobile reloads and top up services.
You can use KiplePay to send and receive money among friends when you split bills with them or pay for parking at a nearby mall. Your little blue assistant will keep tabs on your transaction history.
In short, KiplePay simplifies life for students at university using digital innovations. One simple interface for every student to spend, send, receive and track transactions.
Digital payments are often the first entry point into the formal financial system and a company like KiplePay gives the nation access to a whole new digital financial ecosystem.
Because KiplePay holds such important information, security is vital.
KiplePay has ekyc and OCR features. Comparing OCR and FR video captured is crucial for KiplePay users to determine if the user’s official documents are correct and not tampered with. For national IDs which are verified, students may upgrade their wallet size or receive funds or aid distribution.
KiplePay has incorporated eKYC (electronic Know Your Customer) which simplifies the user authentication process. It allows the digitisation of KYC procedure, for a seamless onboarding experience from their first touch point of account registration to fraud detection.
Its highly scalable and automated approach enables businesses to onboard customers 24/7 via AI and machine learning without sacrificing regulatory and compliance issues.
Document verification through deep learning AI engine also extracts information from identity documents such as MyKad to determine its authenticity, while 3D facial analysis allows selfie videos to be used for micro expressions and facial features to effectively identify the customer as a real person.
User identity can also be verified in real-time by using advance facial matching algorithms with industry-leading accuracy.
Finally, universities can leverage on digital signature to sign documents digitally and remotely, where the signature is digitally certified and time-stamped to prevent tampering.
“We believe that the education sector has a big role to play in the digital transformative journey of the nation, ” said KiplePay CEO Kay Tan.
“Together with the education sector, KiplePay creates value by unifying cashless payments and digital payments within education platforms.
“KiplePay has fully integrated the university system so that students’ data and reporting analytics including a merchant and reporting portal can be accessed by the university administration, ” he shared.
Digital innovation in electronic payments is driven by the need to accelerate Malaysia’s transformation journey to epayments for greater economic efficiency.
KiplePay as a digital payment provider works extensively with organisations to understand their challenges and needs in order to provide adaptable solutions to enhance their current offerings and platform.
This is the core reason why major ecosystem players like Visa has awarded KiplePay a principal issuing licence as they join Visa in their FinTech Fast Track Programme.
The beauty of fintech is its ability to offer customised services including access to financial services, convenience, quality and affordability to the masses.
The underserved segments who find it difficult to gain access to banking facilities are finally given a way to better manage their finances with a fintech platform.
KiplePay is one of the leading players in the fintech market with a strong focus to drive inclusive digital innovations in order to bring core financial services to all communities, including university students.
KiplePay will continue to activate many more communities come. By powering the masses with its digital financial services platform, the company is gearing towards working on a Kiple branded Visa prepaid card, as Kiple moves towards its ambition to be a digital bank.
The KiplePay team will continue to show the nation how it can digitalise communities through its #DigitalReady campaign. This will open up fresh new ideas for Malaysian communities as the nation gets ready to bounce back from the Covid-19 pandemic.
For more information, please go to ready.greenpacket.com
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