Vienna-based Raiffeisen Bank International AG (RBI) is starting live operations to legitimize its customers via smartphone. With the AI-based software from German specialist IDnow, video identification can be completed in a few steps and minutes. “We are the first bank in Europe to offer video identification to corporate customers and financial institutions,” says Peter Lennkh, RBI Board Member for Corporate Customers. “We save our customers time and money and shorten the identification process to a short phone call, which the customer can make from anywhere where there is a stable Internet connection”.
Due to strict regulatory requirements, bank customers must present an official document to specially trained employees, a notary or a partner bank before starting the business relationship. Such personal appointments are a thing of the past with video identification at RBI, if the customer wishes.
“Our identification solution has been used internationally in the B2C business since 2014. Video identification in the corporate customer segment is an absolute novelty. We are very pleased that RBI has chosen us”, explains Rupert Spiegelberg, CEO of IDnow.
RBI has decided to carry out the identification by its in-house staff in order to implement its special relationship approach in this area as well. In future, 70 to 80 per cent of all legitimation tasks for RBI is to take place via video. RBI specialists will also identify corporate customers for the subsidiaries Kathrein Privatbank, Raiffeisen Factor Bank, Raiffeisen Centrobank and RBI Leasing.