IDScan.net today announced a collaboration with Jack Henry, a leading financial technology provider, to provide identity validation for digital account creation via the Jack Henry OpenAnywhereTM platform.
Through its collaboration with IDScan.net, Jack Henry offers the frictionless, mobile onboarding experience overwhelmingly preferred by younger consumers. IDScan.net’s technology integrates ID scanning and data parsing, facial recognition and liveness checks, and third-party identity validation to provide community and regional financial institutions with the highest possible confidence that their customers are who they say they are.
Among the first banks to launch digital account opening through OpenAnywhereTM was Mid-South banking leader Simmons Bank. Simmons Bank wanted to offer a superior experience for digital account creation inside their mobile app, while simultaneously reducing their fraud risk.
“We are proud of our digital account opening experience and the positive response we have received from customers. With identity validation as a key component, combined with automated ID capture, account creation is possible in less than five minutes,” said Alex Carriles, chief digital officer at Simmons Bank. “Digital identity verification enables Simmons Bank to spend less time on paperwork and more time connecting with our customers and providing financial solutions throughout each stage of their lives.”
While the financial institution’s customer can open a new account in just a few clicks, IDScan.net’s technology layers multiple security features beneath the front-end experience. ID validation checks and calls to Department of Motor Vehicles databases help confirm the ID’s legitimacy, and each user is guided through a liveness check by selfie, including anti-spoofing measures to protect against sophisticated fraud techniques such as the use of deepfakes.
Since launch, IDScan.net has validated the identities of more than 100,000 customers on behalf of Jack Henry financial institutions.
“Our number one goal is to continuously evolve to meet the changing needs of financial institutions,” said IDScan.net CTO Andrey Stanovnov. “We want to provide the most accurate identity verification possible, without adding any unnecessary barriers to enrollment.”