MyBank Identity Verification is out project to allow consumers and businesses to confirm their identity through their online account in order to complete online purchases or subscribe to digital services, in a safe and trusted manner.
Today, online businesses are faced with the challenge of verifying whom they are dealing with, in order to assess fraud risk, to enrol a customer (e.g.to get their consent for terms and conditions of usage of a service) or to comply with law (due diligence, age verification). They currently have to implement workarounds which are costly or not effective, for example asking customers to send copies of identity documents through the postal service.
MyBank Identity Verification services rely on real-time, controlled access to the KYC data as held by Account Servicing PSPs with the agreement of the customer. The customer will be safely authenticated by its PSP to authorise his personal information that are transferred to a demanding company in real time. This will be possible in both online or mobile version.