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Royal Bank of Canada Rolls Out Digital ID Verification For Account Opening

– PYMNTS

  • News
  • Posted by Good ID team (Good ID)
  • 26 May 2020

An interview with Peter Tilton, senior vice president of The Royal Bank of Canada, on its new digital onboarding app

The bank now allows customers to scan their IDs with the mobile app, and efficiently populates their account profiles with the information.

“This should help with the duration of COVID-19,” Tilton said. “As we shift to a digital world, particularly in times like this, when people are remote and disconnected, we’re trying to use real expertise we have with our human advisers to help out.”

Artificial intelligence is used to verify driver’s licenses and can be better at spotting inaccuracies than the human eye. But the majority of customers use passports to verify their identity, which minimizes the risk of fraud, as their encrypted chips make them incredibly difficult to fake.

Such solutions may enable advisers to provide services more efficiently and with a deeper level of customer engagement than before they entered the pandemic when RBC reopens its branches and consumers resume visiting locations in-person

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