NatWest has taken a significant step in the digital banking sector by becoming the first UK bank to implement a bank-verified digital identity system.
This innovative move involves integrating OneID’s technology within Adobe Acrobat Sign to streamline and secure customer identity verification processes.
OneID, a prominent technology provider, specialises in secure digital identity verification solutions. Their partnership with NatWest is set to transform how identities are verified across the UK and Northern European markets, including Sweden, Finland, and Norway.
The collaboration between NatWest and OneID addresses the inefficiencies found in traditional identity verification methods such as text authorisation and one-time passwords. These methods often introduced delays and security risks into the document signing process, particularly for NatWest’s leasing business in the Nordics. The new solution not only enhances security but also improves efficiency, reducing the time required for identity verification from days to mere hours.
OneID offers a versatile digital identity solution that combines several methods of verification, allowing customers in the UK and the Nordics to use their bank details or local banking solutions to confirm their identities. This integrated approach not only caters to the diverse needs of NatWest’s clientele but also promotes inclusivity by supporting identity verification through document-scanning for customers across over 200 countries.
The partnership has already begun to yield positive outcomes. NatWest customers can now experience a more seamless and secure signing process, which is crucial for internal and external stakeholders involved in the banking sector. The adoption of OneID’s solution underscores NatWest’s dedication to enhancing customer satisfaction and operational efficiency across its European operations.
Kevin Dearing, head of Bank of APIs at NatWest, praised the integration, saying, “Through utilising OneID’s Digital Identity solution within Adobe® Acrobat Sign®, NatWest is streamlining business processes while strengthening the security of signatories. NatWest has been enabling customers to consent to share bank-held identity attributes with OneID so it is great to see a use case for these services emerge from within NatWest.”
Simon Jacobson, Application Owner at NatWest Nordisk Renting, also commented on the efficiency gains, “Through allowing signatories from across the Nordics and UK to verify their identity with their Bank with OneID and Adobe® Acrobat Sign®, the business process is being reduced from days to hours, while also allowing us to improve against our commitment to sustainability.”
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