“Thanks to AU10TIX’s solution, CIBC FirstCaribbean will enable customers to open new checking and savings accounts remotely, confirming their identities with a selfie”
AU10TIX‘s selfie onboarding technology is coming to the Caribbean, thanks to a new partnership with CIBC FirstCaribbean.
The bank has become the latest financial services entity to embrace selfie onboarding – a major FinTech trend that has become even more prominent after COVID-19 drove so many more consumers and businesses into online channels.
Thanks to AU10TIX’s solution, CIBC FirstCaribbean will enable customers to open new checking and savings accounts remotely, confirming their identities with a selfie. Facial recognition technology will compare an uploaded selfie photo to images of the end user’s official identity documents, thereby verifying that the end user is who they say they are.
The biometric solution features integrated liveness detection technology, designed to detect signs of presentation attacks in which legitimate user biometrics are mimicked in an attempt to fool the identity verification system. What’s more, the whole process can be completed in a matter of seconds.
In a statement announcing the partnership, AU10TIX CEO Carey O’Connor Kolaja emphasized the importance of this kind of security technology now that fraudsters are following legitimate consumers into online channels.
“Cybercrime has been pervasive due to the pandemic and many of our habits have changed around how we, as consumers, want to connect with businesses,” she said. “Together with CIBC FirstCaribbean, we are creating a platform that responds to these digital trends with faster onboarding, tougher security and data protection, and best-in-class user experience.”
CIBC FirstCaribbean will begin using the solution this month in St. Lucia, and plans to expand the onboarding system to additional islands in the coming months.
(Originally posted on FindBiometrics)