Nanovest & ADVANCE.AI: Democratising investment starting with 60s secure onboarding
05 July 2022
Newly launched Nanovest is revolutionising investing in Indonesia. Customers can invest in cryptocurrencies, global stocks, as well as carry out money transfers via its platform. With over 2,000 US stocks, ETFs and 120+ cryptos to choose from, one can get start investing with just 5,000 Indonesian rupiah (about US$0.35), with zero commission fee.
Nanovest operates in compliance with regulations by Kominfo (Ministry of Communication and Information Technology), Kementerian Perdagangan Republik Indonesia (Ministry of Trade), Komite Akredaitasi Nasional (KAN), Asosiasi Blockchain Indonesia and is insured by Sinarmas Financial Services.
Watch the case study to learn more about ADVANCE.AI's partnership with Nanovest
"eKYC during onboarding is an important and mandatory process for us to verify our customers before they start making digital asset transactions on the Nanovest platform, which is why we made sure to find the right partner as we began conceptualising and building the platform. That was in July 2021, when we started our partnership with ADVANCE.AI – 2 months before Nanovest's alpha version," Nur Vitriani, Head of Business Operations, Nanovest, shared.
Created with digitally savvy young investors in mind, Nanovest is unlike traditional trading platforms that may be built on legacy systems and further frustrates new users with hard-to-use interfaces.
An investment experience built with digitally savvy users in mind
Nanovest's focus on making investment accessible extends to its user experience. Its entire trading experience is designed around new investors, starting with easy and secure onboarding using ADVANCE.AI's ID optical character recognition (OCR) and Liveness Detection technology. Each user simply verifies his/her identity with Kartu Tanda Penduduk (KTP or identity card) followed by video verification using a mobile phone camera.
Vitriani added, "ADVANCE.AI's eKYC process is quick, user-friendly, and matches the habits of our target segment of young and new investors. These investors are used to accessing digital goods and services in an instant, so it's key for Nanovest to speed up onboarding – without sacrificing quality – to ensure high conversion and low drop-off rates. With ADVANCE.AI, the onboarding process is completed within 60 seconds."
"ADVANCE.AI's eKYC process is quick, user-friendly, and matches the habits of our target segment of young and new investors."
Nur Vitriani, Head of Business Operations, Nanovest
With the ever-evolving economy, especially for the crypto market, it's essential for Nanovest to have a tech partner that always offers the most up-to-date solution – whether it's keeping up with regulations and compliance needs, or preventing scams and fraud. "For example, in February 2022, ADVANCE.AI's ID Forgery helped us tackle a fraud issue that came up," Vitriani mentioned.
How ADVANCE.AI won the trust of Nanovest
ADVANCE.AI's solution and tech efficacy may have been part of the vendor selection criteria, but what set us apart and won Nanovest's trust is our team's dedication to deliver on Nanovest's mission.
"We chose ADVANCE.AI because of your deep industry knowledge, years of experience in the market, and you have a good eKYC solution. What we really like is your team's support: the ADVANCE.AI team is hands-on, very detailed, and helps us solve any issues we might have. The team also shared pointers on enhancing the Nanovest experience, and that has helped to drive a big impact in our user journey."
"While Nanovest provides a 24/7 trading platform for our users, we are happy to have ADVANCE.AI as the 24/7 support system that we can count on," said Vitriani.
We are grateful for the trust too, and look forward to making investment quicker, easier and safer for even more investors in our continued partnership with Nanovest.