365.bank Selects Innovatrics to Power Digital Identity Verification, Automating Customer Account Opening

365.bank, recently named bank of the year 2021 by The Banker and one of Europe’s most innovative digital banks, has partnered with Innovatrics to verify customers on its banking platform with Digital Onboarding Toolkit (DOT), Innovatrics’ AI-powered digital identity verification technology. 

365.bank is the latest financial organization to partner with Innovatrics for trusted digital identity verification, streamlining Know Your Customer (KYC) and Anti-Money Laundering (AML) processes while providing a great user journey. Having a seamless customer onboarding experience that balances evolving compliance and emerging fraud threats is essential as the bank scales. 

“In digital banking, our philosophy is to bring new technologies on a ‘mobile first’ basis. Adding facial biometrics brings a new user experience and simplifies and speeds up the entire process so far, “says Filip Lehocký, Head of Digital Banking at 365.bank. 

The project is delivered in collaboration with Slovakia-based Goldmann Systems, a specialist IT system integrator for financial institutions, healthcare providers, and the public sector. Innovatrics DOT has been integrated with Goldmann Systems’ digital onboarding solution which includes:

• OTP phone verification
• Google / Apple sign in
• Politically Exposed Person (PEP) check
• ID verification against Ministry of Interior central register
• Electronic signature
• Video call verification of edge cases

With the integration of Innovatrics DOT, 365.bank users can sign up by simply taking a photo of their government-issued identity document (ID) and taking a selfie. Innovatrics first extracts the textual data from the ID. Then, with facial biometric and liveness detection technology, Innovatrics checks that the ID matches the user’s face. This ensures the person presenting the identity is its legitimate owner and is physically present. Users can start their digital identity verification journey anywhere, anytime, through a simple and user-friendly digital experience that meets regulatory requirements.

Key benefits for 365.bank customers:

• Identity verification and account opening in minutes.
• Onboard from anywhere, no need to visit a branch. 

Daniel Ferak, Director of DOT Business Unit at Innovatrics, commented: “We’re delighted to support 365.bank with digital identity verification, enhancing their customer experience, operational efficiency, and fraud prevention. Innovatrics’ technology brings instant trust to digital transactions and we understand that great UX is a non-negotiable for 365.bank. With DOT’s auto-capture technology, real-time user feedback, and industry-leading biometrics, users can go from stranger to customer in minutes”. 

Interested to know more about our digital identity verification solutions? Read our references or connect with our biometric experts and learn how we can help.