Tokopedia & ADVANCE.AI: From seamless, secure eKYC to more efficient business operations
20 June 2022
As part of Tokopedia's digital strategy to enhance user experience, the e-commerce giant was already in talks with ADVANCE.AI to enable eKYC in early 2019. Besides being able to onboard the influx of users securely during the pandemic, Tokopedia also achieved better business efficiencies with ADVANCE.AI's streamlined onboarding solution.
Tokopedia is one of Southeast Asia's largest e-commerce marketplace platforms, connecting over 100 million monthly active users and over 12 million merchants as of June 2022.
Since its founding in 2009, Tokopedia has been an important part of Indonesia's digitisation and continues to be key in the country's e-commerce boom. Indonesia's e-commerce market is projected to reach $62.6 billion in 2022 according to statista.com. While its first few years were focused on creating an "everything store" for Indonesians, Tokopedia is now a household name in the region, particularly as individual sellers and merchants become more acquainted with buying and selling online.
Enabling intuitive and easy-to-use digital onboarding
As part of Tokopedia's digital pla to enhance user experience, the e-commerce giant was already in talks with ADVANCE.AI to enable eKYC in early 2019 and was therefore able to provide sellers and buyers seamless and secure onboarding when physical stores had to close because of the COVID pandemic. Many individual sellers who turned to Tokopedia's marketplace to sell their goods for additional income also benefitted from ADVANCE.AI's intuitive and easy-to-use digital onboarding solution.
“ADVANCE.AI provided a one-stop KYC solution we can fully rely on without complex maintenance – this has really helped our team to manage efficiency.”
Marina Tjuanda, Big Data & Projects Senior Lead, Tokopedia
To be onboarded, users go through a Know Your Customer (KYC) process to verify that they are genuine sellers and real persons. This helps to weed out fraudsters and high-risk profiles right at the start. How our solution lets Tokopedia verify users quickly and securely:
And all it takes for each user is his/her KTP and smartphone camera.
The new automated and secure onboarding process was implemented seamlessly into Tokopedia's platform; it helped Tokopedia's team greatly reduce the effort needed for manual review, and the possibility of human error – allowing the team to focus on expanding their business offerings and boosting users' experiences on a larger scale. “ADVANCE.AI provided a one-stop KYC solution we can fully rely on without complex maintenance – this has really helped our team to manage efficiency,” Marina Tjuanda, Big Data & Projects Senior Lead, Tokopedia, shared.
ADVANCE.AI as a strategic partner for the long-term
Choosing ADVANCE.AI as a partner was also a long-term strategic move to make sure Tokopedia was well-guarded against evolving fraud as its business expands. With digital transformation picking up pace in Indonesia and across the region, more fraudsters and more sophisticated fraud could arise with increased digital activity. Identity fraud, for example, may become more common – so a verification solution that offers high accuracy like ADVANCE.AI's is key.
ADVANCE.AI's cloud-based platform also ensures the most up-to-date verification and risk management solution to constantly safeguard Tokopedia and its ever-expanding userbase. Our AI-powered big data platform is continually enhanced with consumer and business insights from Advance Intelligence Group's unique market ecosystem, so enterprise clients like Tokopedia can better understand and serve the needs of their customers.
Enabling Indonesians has always been part of Tokopedia's financial inclusion strategy, and we are pleased to be helping Indonesia's mobile- and digital-first users quickly and safely get started on its marketplace – more importantly, ensuring Tokopedia is a secure platform that users can trust.