Ondot aims to transform aspects from invitation and acquisition of customers, to instant issuance of cards and secure payments, to daily purchase interactions. The digital card services platform enables banks to empower customers to self-serve, through instant digital card issuance, secure online and autonomous payments, payment card controls, personalised user journeys, effective spend management, and location intelligence-based services.
With its digital card services platform, Ondot provides full card life-cycle management associated with the digital card in a single platform, thus allowing banks to design their card digitisation strategy and roadmap in stages or all in one go. The platform enables new capabilities for cardholders to instantly create a new virtual card number, and control the use of the card to a specified time window, spend amount, location, merchant, and device. The card numbers are associated with dynamic security codes (CVV2) for securing online transactions.
Moreover, card issuers can leverage their cardholders base and their social networks to create a viral effect for customer acquisition and use bots to guide users through an interactive application and Know Your Customer (KYC) process. After the approval, cardholders are abled to complete the onboarding journey with instant digital card issuance and in-app push provisioning into digital wallets. Another feature is that an existing customer can invite a friend, and a new prospect can apply, be approved, onboarded, and start using digitised cards for online purchases or tap-and-pay at stores.
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