In order to conclude legally compliant contracts in the digital world, customers need to be identified. Companies that want to combine compliance and a pleasant customer experience when onboarding new customers face a number of challenges.
Our solutions for digital onboarding
Open accounts online without media disruption
According to the regulations of Money Laundering Act, a customer must be identified when opening an account. Traditionally, this was done in person at the bank counter. Direct and online banks have had alternatives for some time: identification at the post office or by video call – but these are not ideal. The customer either has to leave the house or stick to the working hours of a call centre. The prerequisites for video calls are also not always given, either for personal or technical reasons.
Together with partners, Swisscom Trust Services enables a digital opening of accounts without media disruption. This procedure makes use of the interfaces created by PSD2. Thus, any person who is the holder of an existing account can be identified by a reference transfer.
The advantages are obvious: simple and fast handling (login in online banking is needed) for consumers and cost advantages as well as high scalability on the part of the providers.
Trade shares immediately or gamble online
Trading apps and platforms and gambling are booming sectors within the internet economy. What all have in common: Customers usually want to get started immediately once they have decided on a certain offer. Long and complex identification processes can lead to many aborts in the customer journey.
In order to be able to use the offers, customers need to first deposit an initial amount. The interfaces created by PSD2 make it possible that information about the user can be transmitted securely during this transaction. Thus, the customer gets identified “on the fly”, which also includes the prescribed age verification.
The corresponding solution, which Swisscom Trust Services developed specifically with a partner, integrates simply so that it is invisible to the end user and does not create any additional complexity.
Simply digitise contract conclusions
High regulatory hurdles mean that contracts in the field of finance and insurance often still have to be signed by hand. With extensive forms, it can easily happen that customers make mistakes while filling them out. These are usually only discovered by the responsible clerk after the form has been sent, which further complicates the already long process.
Today, collaborative platforms make it possible to fill out contract forms together digitally. Just like at a branch appointment, advisors are available to their customers for queries and can see what they are filling out in real time.
Swisscom Trust Services ensures that at the end of this process the customer’s declaration of intent is legally secure – just as when the completed contract is presented to the customer for signature on site.
Smart Registration Service
The Smart Registration Service (SRS) can be integrated to an existing onboarding process and offers various methods for identification. The SRS takes over the coupling of identification with an authentication method and enables unlimited electronic signing. This enables end customers to use the qualified electronic signature in an existing process to sign digital contracts directly at the end. In addition, it is possible to connect existing identification procedures and have them certified for the qualified signature.
The Signing Service is a cloud-based service for remote signatures. It can be easily integrated into existing onboarding solution using the Signing Service’s standard API. This allows companies to add electronic signing capabilities to their onboarding processes while taking into account the highly regulated compliance requirements in their respective markets.
Mobile ID is one of the most secure two-factor authentications in the world and enables secure logins, remote access, will signing and the triggering of electronic signatures – whether in the home office or in the office. With Mobile ID, no tools other than a smartphone are needed. The Mobile ID app can be used internationally and is available for both Android and iOS. This procedure offers the most convenient completion of a digital form process.
Together with our partners to the digital onboarding
ROCKON Digital Evolutionhttp://www.rockondigital.ch
ROCKON Digital Evolution is a Swiss FinTech and Certified Financial Intermediary specialized in 01 | Digital Client Onboarding, 02 | Digital Lifecycle Management and 03 | Digital Payment Transactions. We are experts at transforming front-to-back processes into efficient digital business workflows. Our products are:
- IdentON | Online Identification (incl. KYC)
- VidentON | Video Identification (incl. KYC)
- MeetON | Video Chat
- SignON | Electronic Signatures
- PayON | Escrow Payment
- ConsultON | Process Consulting
Signicat, the Trusted Digital Identity™ company developed a unique Digital Identity Platform which incorporates the most extensive suite of identity verification and authentication systems. With our partner Swisscom we are strengthening our Digital Identity Platform with qualified electronic signature (QES) functionality. Signicat can now offer the digital equivalent of a legally binding handwritten signature, meeting the highest level of the EU‘s eIDAS standards for electronic signatures.
ubitec is a specialist for digital solutions in the finance and insurance sector. With ubiID, ubichat and ubibot, our portfolio includes innovative products in the fields of digital identification, conversational business and conversational AI. We also develop individual software and integrate it into existing systems. Our goal is to automate processes holistically and thus replace analog procedures, unnecessary work steps and media breaks with digital solutions: we create the new normal.