Since the beginning of November, two major banks in Spain have launched innovative initiatives regarding Digital Onboarding processes. Thus Spain is at the European forefront of innovation in biometric security.
The mobile banking revolution has taken another step forward in Spain, by relying on biometric security technologies. Since early November, both SelfBank and BBVA have launched their Digital Onboarding systems, a new process that facilitates customer enrollments. Banks no longer have to check the customer’s identity in their physical offices in order for them to aquire new products or financial services. Following the approval by SEPBLAC of the new regulation last March 1, these products can now be purchased remotely, by simply showing a valid ID document to the camera of their computer or mobile device.
By betting on innovations of biometric technologies, the Spanish banking and Fintech sectors had become pioneers in implementing secure biometric identification systems for purchasing new products and services at a distance.
Pioneering experiences
In the case of BBVA, the soon to be new customers will only have to visit the bank’s website or to download BBVA’s mobile app, in order to identify themselves and provide some personal information. They will be asked to provide a photo ID and a selfie to prove their identity, wich the bank will verify by biometric recognition processes.
SelfBank has launched its own system, called ‘SelfNow’, which uses video captures, biometric technologies and advanced electronic signature systems to collect all the mandatory documentation in order to identify their new clients.
Legal framework
European laws forces financial and banking companies to check the identity of their new customers before opening a new bank account or purchasing certain products or services. Traditionally, Spanish banks have resolved this issue either by physically checking the identity of the customer in an office, either by sending a courier to the person’s address, or even by crossing data from another account in another bank. From now on, this new processes of Digital Onboarding will represent a revolution in terms of customer experience, with strong commercial implications: the new processes have a great potential for business development through cross-selling and up-selling techniques, and -above all- for increase customer’s loyalty by implementing a customer journey design that’s attractive and comfortable.
Currently there are few completely online onboarding processes, altough very likely the trend will change in the medium term.
Banking platforms that implement these new methods of customer acquisition will face regulatory challenges (will have to develop systems that meet the harder regulations regarding identification, such as eIDAS or new laws on money laundering) and above all, security.
Biometrics in this new scenario.
Of course, given the nature of the onboarding processes, biometric security measures will be crucial in these new environments. Gradiant has developed and provides robust solutions for authentication and validation. Gradiant technological developments provide recognition and verification of the identity of the users and clients by using the photograph on their official identity documents. In addition, Gradiant Biometrics is able to reliably overcome one of the major difficulties that modern facial recognition systems face: life detection.
Gradiant Biometrics team holds more than ten years of experience in biometric research, and has successfully transfered its technologies to sectors such as banking, health or security.
We believe that the key to successfully developing a secure biometric system is linked to three major concepts: security, comfort and availability, so we integrate these principles in all of our developments.
Following this philosophy, we offer the industry our biometric technologies for mobile devices in three complementary ways: face, voice and signature recognition. The three variants can be used separately or combinated, to increase security and effectiveness.
Our lines of work:
- Face Recognition
- Speaker Recognition
- Handwritten Signature Recognition
- Liveness Detection
- Biometric Template Protection
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Technology | Biometrics
Sales contact│International Customers
