It would be impossible to ignore the drastic acceleration in digital transformation, that has taken place over the past year. Businesses around the world have turned to technology as a means to continue with everyday meetings, tasks and procedures, that just a few months previous were only carried out in-person.
Financial institutions have been left with no choice but to allow consumers to open accounts, apply for loans and carry out transactions, through online and mobile channels. Increased adoption of digital banking has been seen across all customer demographics, even those groups who previously demonstrated a strong preference for in-person interaction.
The more consumers are required to repeat the process of online identity proofing, the stronger the demand is for organisations to provide a frictionless experience. The pandemic has increased the urgency around improving those KYC and AML procedures, which are no longer suited to a digital world.
At FTT Identity 2021, (now part of Future Identity Finance) a panel of experts representing financial institutions, fintechs and identity technology providers discussed in more detail the challenge of conducting secure and seamless identity proofing in an increasingly remote world.
Watch the full video of this session below.
Featuring the following rockstar speakers:
- Maria Khan, Digital Product Owner, Royal Bank of Scotland
- Pranav Khanna, VP and Head of Product, Identity Services, Capital One
- Gemma Steel, Director and General Counsel, Dozens
- James Baston Pitt, Regional Director, Onfido
- Gene DiMira, Co-Chair, Outreach Expert Committee, DIACC and Chief Identity Officer, The AML Shop (moderator)