Digital Onboarding

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.

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.

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.