Customers of Austria’s Erste Bank und Sparkassen can now open a current or student account using video-based online identification through either a mobile device or desktop computer. The bank said it has integrated video identification solutions provider IDnow’s Video-Ident solution across its digital banking platform to enable the service, which will become available for applying for other products over the course of this year. A new customer’s identity is verified via a live video connection, taking no more than five minutes. Pictures are taken of the front and back of a government-issued photo ID document, such as a passport or national identity card, and a photo of the customer is taken and compared to that shown on the ID. The move follows Austria’s Financial Market Authority’s (FMA) approval to enable banks to offer video-based online identification services.
