Industrial and Commercial Bank of China (Asia) Limited
SoftToken
With the rapid development of fintech, electronic channels such as mobile banking have been greatly developed. Hong Kong's banking industry has accelerated the promotion of fintech to launch new functions and new services. SoftToken (dynamic soft token) is a new trend in the industry, taking into account security and convenience. Most of the banks replace traditional physical electronic ciphers by soft tokens to achieve 2FA.
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To comply with my confidentiality agreement I have omitted and appropriated confidential information. These designs are a reinterpretation of the original.
My Role
I was the only designer in local team. I mainly responsible for the user flow, evaluating the experience and auditing the interface design by following brand application guideline. I worked alongside a local project manager, two UI designers and three software developers from mainland head office.
Project Analysis and Motivations
Make it Safe
Allow customers to enjoy a safe and more convenient authentication method when conducting various high-risk transactions or investment transactions.
Attract Customers
Provide customers with better e-channel functions and user experience, and to further explore the potential benefits of e-channels.
Spread of the Epidemic
More than 420,000 cross-border and overseas customers have not been able to apply for new or replacement of electronic password devices in time.
Service Enhancement
In the future, customers will only need to use Mobile Banking to perform Mobile Security Key verification, and will no longer need to carry physical electronic ciphers with them, and no issue on such as loss and power outage.
Reduce Operating Cost
When it is fully replaced by Soft Token, the annual operating cost can be saved by about HK$4 million. Personal online banking, mobile banking APP and ICBC Smart Invest APP can conduct transaction verification through the mobile security code.
Boost Competitiveness
Most of the banking industry (such as BOCHK, HSBC, Standard Chartered, DBS and Bank of East Asia) have also used Mobile Security Tokens (Soft Tokens) to replace physical electronic passwords.
Giving instructions & advice to the development team
Processed the UAT and made sure the app flow was align to the design requirements and suitable to the compliance and HKMA.
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If there are some issue on interface or workflow coherent, I will marked down the comments to ask the development team to do the amendments.
