The Royal Bank of Canada (RBC) is using AI and NFC technology to let clients digitally verify their identities when their open accounts in branch.
The RBC app now uses AI to check a client’s government-issued identification against the security features and characteristics of driver’s licenses and passports.
When a client scans their ID through the app on their phone, the information is automatically entered into their account profile on an advisor’s computer.
Meanwhile, NFC lets clients tap the electronic chip on newer versions of passports, also known as ePassports.
The changes are designed to make the account opening process simpler and faster, cutting down on document verification and data entry.
“We’ve spent the last two months piloting this in nearly 50 branches and the reaction from clients and advisors has been outstanding,” says Sean Amato-Gauci, EVP, cards, payments, banking, RBC.
Later this summer, the bank plans to let people open accounts remotely by verifying themselves with a live selfie against government-issued ID.