UBS has partnered with iProov to offer automated identity checks to its key4 by UBS customers. UBS is the first bank in Switzerland to offer this process for account opening in combination with qualified electronic signatures.
Using iProov face verification technology, customers can onboard online 24/7 in just five minutes. Clients enroll onto the service simply by scanning their face against a trusted government-issued document, such as a passport with an NFC chip.
Prior to partnering with iProov, UBS was using video calls to verify client identity, which can be employee resource intensive and restrict when and where new customers can enroll.
UBS is one of a number of financial services companies around the globe using iProov’s Genuine Presence Assurance technology to confirm the identity of online customers to securely enroll new accounts, authenticate transactions, and perform identity recovery, all against the backdrop of the ever-growing threat of cybercrime and online fraud. With consumers increasingly turning to digital banking, financial services companies have realised that customers want to access services quickly, securely, and conveniently on their mobile or other devices.