UBS leverages NFC and biometrics to let Swiss residents open a bank account from their mobile phone - NFC World

FACE RECOGNITION: Regula’s strategy compares a selfie with the passport representation to verify ID

Residents of Switzerland tin present remotely verify their individuality erstwhile opening an relationship with Swiss slope UBS by scanning the contactless spot embedded successful their biometric passport with their NFC smartphone and confirming their individuality with a selfie utilizing look designation technology.

The bank’s integer onboarding work enables Swiss citizens and overseas nationals with a Swiss residence licence to motion up for an account, entree banking products and make an physics signature successful the UBS mobile banking app “anytime and anywhere” and without needing to transportation retired the real-time video interrogation that the slope antecedently required.

The work uses a papers authentication solution developed by Latvia-based exertion supplier Regula that reads the RFID spot successful a customer’s biometric passport via “the NFC module connected a mobile device. It past sends the league to the server wherever some spot and information authenticity and integrity are verified by means of asymmetric cryptographic keys,” Regula explains.

“The unafraid authentication of the physics spot contributes to the assurance that the accusation successful the carnal papers is trustworthy and that the spot is not manipulated oregon cloned. Any discrepancy successful the information checks amusement up instantly and contiguous a wide motion of papers tampering.”

“After the papers verification is complete, the lawsuit takes a selfie for a liveness check” that Regula’s facial designation exertion past compares with “the papers portrait, some the disposable 1 and the 1 successful the RFID spot […], to guarantee the idiosyncratic is who they assertion to be,” the exertion supplier says.

“All these actions are done successful little than 5 minutes, and close afterwards, the lawsuit gets entree to their freshly created slope account.”

UBS launched a sustainable recognition paper made of corn successful November 2020 and forecast successful February 2021 that widespread adoption of biometric outgo cards could make much than US$15bn successful planetary banking gross by 2026.

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