In an effort to streamline its application process, HSBC will enable business customers to pass the identity checks required to open new accounts by taking a selfie.
Clients using the bank’s mobile application will have to take a self-portrait using the front-facing camera on their Android or iOS smartphone. This photograph will then be cross-checked with the image on their driving license or passport.
“Through simplifying the ID verification process, we’ll be able to save our business customers time and open accounts quicker,” said HSBC’s head of global propositions for commercial banking, Richard Davies.
“We also expect the convenience and speed of a selfie to become the verification method of choice for our customers, who no longer need to visit a branch to complete the process.”
Similar to Mastercard’s Identity Check, HSBC’s app will use proprietary facial tracking technology to ensure that customers are not fraudulently creating accounts. When a user snaps a selfie, the software will compare key parts of their face to images used in official documents pertaining to them from over 150 countries. It’s only once their identity has been fully verified that they be able to open a new account.
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