Online banking continues to grow. According to the latest EY Global FinTech Adoption Index, 71% of UK consumers and 46% of US consumers had used at least two digital financial services in 2019, up from 14% and 17% respectively in 2015. Savings, payments, borrowing and budgeting are all moving online.
The challenge for financial institutions is how to make the online onboarding process as simple as possible for customers, while complying with Know Your Customer guidelines and protecting against fraud. Our latest report Top Considerations for Online Onboarding in Financial Services sets out ideas for how this can be achieved.
iProov offers the first large-scale biometric genuine presence assurance technology for organisations that require indisputable proof of identity to deliver secure services remotely. The company’s patented AI deep learning technology assures that a user’s face is genuinely present when scanned on a mobile device and matched to an official identity document, compliant with international standards.
Applications such as ID verification, border control, customer authentication, onboarding, and access control all benefit from iProov’s innovative biometric authentication process. Organisations demanding a combination of high security with customer usability, such as the U.S. Department of Homeland Security, the U.K. Home Office, European and Asia-Pacific governments, and financial services and healthcare providers, depend on iProov to validate genuine identity and strengthen consumer trust online.