Reinventing Client Onboarding in Portugal: Banco BPI’s Experience
/Overview & Challenges
Who is the client?
BPI Bank is one of Portugal’s leading banks, known for driving digital innovation across the financial sector. As a forward-thinking institution, BPI continuously seeks ways to offer customers secure, simple, and intelligent experiences—both online and in branches.
Challenges and Problems
To meet the evolving expectations of digital-first customers and regulators, BPI faced several challenges:
- Complying with Portugal’s strict remote onboarding regulations.
- Balancing user experience with security.
- Preventing advanced identity fraud.
- Supporting onboarding for a diverse, international customer base.
- Reducing operational friction without compromising compliance.
/Opportunities and Benefits
Opportunities for
BPI Bank
/Redesign the onboarding experience in Portugal.
By becoming the first bank to implement remote onboarding with qualified digital certificates, BPI had the chance to redefine how customers open accounts in a fully compliant, 100% digital way.
/Lead the market in biometric innovation. The collaboration allowed BPI to adopt cutting-edge biometric technology (face and voice recognition), positioning itself as a pioneer in secure, passwordless banking experiences.
/Build a scalable identity ecosystem. With a future-proof, modular solution, BPI unlocked the opportunity to extend identity beyond onboarding—enabling biometric payments, transaction approvals, and digital signatures across services.
Benefits for
BPI Bank
/Increased conversion rates. A simpler and intuitive account opening process. Customers complete onboarding quickly and easily—without video calls or extra apps—boosting acquisition and improving first impressions.
/Enhanced fraud prevention.AI-powered biometric checks with liveness detection proactively block identity fraud, safeguarding both customers and the institution.
/Total compliance with Portuguese and EU regulations.The solution meets the strictest legal standards (e.g., Law 83/2017, eIDAS), giving BPI confidence and agility to operate in a regulated environment.
/Challenges addressed by Veridas for BPI Bank
Business Problems Solved
Veridas delivered a first-of-its-kind onboarding solution in Portugal, fully compliant with local law (including Law 83/2017 and eIDAS). Identity verification was completed through the issuance of a qualified digital certificate—a milestone in remote banking.
The solution enabled:
- Instant onboarding without video calls or Chave Móvel Digital.
- Plug-and-play integration into existing systems.
- Identity reuses across different channels.
- Biometric authentication for multiple use cases, including secure transaction approvals, security journeys and more.
Unique selling points
- 100% proprietary tech = rapid adaptation (e.g. instant support for new Cartão de Cidadão released in 2024).
- Fully modular & scalable architecture.
- World-class certifications (ISO 27001, SOC2, NIST FRVT, etc.).
- A co-creation partnership, not just implementation.
/Immediate Impact and Long-Term Benefits
- Identity verification is now instant and secure
- Onboarding available to users from 190+ countries
- Advanced biometrics ensure fraud prevention with liveness detection
- Full compliance with national and EU regulations.
Long- Term Benefits
- Laying the groundwork for biometric payments and transactions.
- Evolving identity into a business catalyst, not just a regulatory checkbox
- Identity is now central to BPI’s competitive strategy.
/Client Testimonials
Customers today expect a fully digital, user-friendly, and secure experience—and that’s exactly what Veridas delivers. Together, we are transforming the account opening paradigm in Portugal, building a solution that redefines how bank accounts are opened.
Madalena Lourenço, Head of Self-Service Channels, BPI Bank
