Europe's best mobile banking app incorporates new functionalities thanks to biometrics
Veridas biometrics allows BBVA’s mobile banking app users to switch cell phones from anywhere and at any time.
The challenge
Digital banking users need a cell phone number to be able to operate securely. As with an ID card or a credit card, the cell phone is a piece of data held by the user and can be used as a tool to verify their identity.
The “strong authentication” of the Payment Services Directive (PSD2) considers the cell phone as an authentication factor. It can be one of the two pieces of information required from the user to verify their identity in electronic payments. However, the phone number itself is not valid if the identity of its bearer is not verified.
The solution: Veridas
BBVA has incorporated a new functionality thanks to Veridas biometric solutions to optimize the interaction between the bank and its customers digitally. This is the possibility of changing the validated cell phone number from the application itself. Recently, a procedure that a trip to an ATM or a branch bank branch is made through the ‘app’ thanks to the digital identity verification solution of the technology company Navarre.
With the incorporation of Veridas’ software, users can quickly complete this procedure through the BBVA Spain app, simply by having their ID card at hand and following the identity verification process indicated in the same application from their mobile device, thus avoiding any trip to the bank’s headquarters.
During the process, the validity of the identity document is analyzed, and a biometric comparison is made between the photo on the ID card and the selfie taken by the user at the time. The AI-powered biometric engine verifies the user’s identity in an accurate, secure, and private manner.
Veridas technology incorporates anti-fraud techniques in ID validation and the selfie capture, providing strong identity authentication to prevent any attempt of fraudulent access to digital banking.
The results
Thanks to the collaboration with the technology company from Navarre in this new use case, BBVA has moved from presumption of identity to certainty, achieving an accurate identity verification. In this way, manual reviews of a process that can be automated are avoided; and the experience of customers who can now update their validated phone number from their mobile devices is improved.
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