Frans Woelders, Chief Digital Officer at NatWest

NatWest has announced real-time biometric checks for customers opening current accounts. The new feature will allow the consumers to provide a selfie or a photo ID to verify themselves. This stands as an authenticated measure against fraudulent applications and removes the need for ID documents.

Frans Woelders, Chief Digital Officer at NatWest, said, “We know customers want to be able to open accounts at a time and a place that suits them and not have to worry about precious ID documents going missing in the post, or taking time out of their day to go to a branch. That’s why we’re making it easier, safer and faster to open and access accounts, allowing customers to get on with the things that matter.”

According to the supplier, customers will be able to save their applications-in progress and resume it as and when they like. The application accepts international ID documents for UK residents from diverse nationalities. The process records the location of the application as an added measure against fraudulent practices.

The process has been devised in collaboration with London-based ID verification fintech, HooYu.

David Pope, Marketing Director at HooYu said, “Our work with NatWest balances the twin demands of compliance and convenience. Our unique identity platform that combines many forms of identity verification technology is designed not only to bring extra security into the account opening process but also to make customer on-boarding simpler and quicker.”

Recently, Natwest announced the launch of a new biometric payment approval feature, which allows business and commercial banking customers to make payments of any size through their Bankline Mobile app using Face ID or Touch ID, without the need for a card reader.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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