Innovatrics is providing remote onboarding services for the Slovakian financial intermediary Partners Group SK. The Innovatrics solution uses document recognition to confirm the authenticity of the user’s identity document, and then uses facial recognition (with liveness detection) to compare a selfie to the photo on that ID.
The deployment is being carried out through Innovatrics’ partnership with Softec, which has implemented Innovatrics’ Digital Onboarding Toolkit for Partners Group SK. The technology will allow the financial institution to onboard new customers remotely, which will in turn make it easier to generate new business without risking face-to-face interactions during the pandemic.
“Properly checking the identity of a client is among the first requirements of the client-intermediary relationship,” said Partners Group SK CEO Juraj Juras. “When we can’t meet with clients face to face, facial biometrics is the ideal solution that can be used wherever they are.”
According to Partners Group SK, the Digital Onboarding Toolkit will minimize the amount of paperwork that customers need to do when reaching out to a financial intermediary. In that regard, the solution automates certain aspects of the onboarding process while still supporting the European Union’s latest GDPR regulations.
Innovatrics is based in Slovakia, and has previously partnered with PosAm to develop a biometric app that will help the country’s citizens to gain access to government services. The company’s passive liveness detection technology has achieved iBeta Level 1 certification.