Challenge

How to make fully remote digital customer onboarding process fast and secure without compromising user experience. 

Complying with KYC regulations while offering fully-remote customer onboarding is a significant challenge for banks. On one hand, they must ensure the secure verification of their customers’ identities. On the other hand, they need to offer a fully digital experience to meet the demands of today’s customers.

Traditionally, the KYC process of banks required new customers to visit a branch in-person, complete paper-based application forms, and submit their identity documents for verification. This process was not only time-consuming, taking over 60 minutes, but also labor-intensive and prone to human error.

Solution 

Fast and secure online remote identity verification as an embedded service within banks own mobile app

With the help of biometric identification, banks are now able to verify the identity of their customers remotely, in just one minute. Customers can simply upload their personal information and a photo of their government-issued ID document, and the bank’s system will use Candour´s biometric identification to compare the selfie to those on their ID document.

Once the customer’s identity has been verified, the rest of the onboarding process can be completed quickly and securely. The bank may pre-fill some of the fields with the information from the ID document, making the process even faster.

This streamlined onboarding process not only saves time for the customer but also reduces the risk of identity theft and fraud for the bank. With the increasing use of online transactions and remote work, the demand for secure and efficient onboarding processes has never been higher.

By using biometric identification technology, banks can offer their customers a fast and secure onboarding process, while also ensuring the safety and security of their financial services.

Candour Identity provides the onboarding and login processes for external third-party services

• Biometric data (face and passport) will be stored and encrypted in end point
• Backend support for the encryption and data management in mobile app
• ID engine analyse stored data and new selfie
• Candour Identity backend is securely connected to customer system through Candour API or the Candour Identity  functionality is embedded into customer mobile application using Candour ID SDK