Digital products and services have been on an enormous rise over the last few years. Since the Corona pandemic, many businesses have been forced to speed up their digitisation and invest in changing offline processes.
In line with the government’s guidelines, many companies have since had to offer remote working – which for some, is brand new territory. Before now, it hasn’t just been a matter of ‘old school’ ways of working, but instead, it has been a case of regulatory requirements that simply could not be previously met.
For those working in high-security sectors such as financial services, this brings with it a lot of challenges. For example, the ability to verify individuals on a face-to-face basis through physical meetings is now inaccessible.
So, what is the answer?
According to the Guernsey Financial Services Commission (GFSC), a video call may be carried out in circumstances where the individual cannot arrange for certification of their identity documents but can or has provided the firm with an uncertified copy; or where the individual cannot provide the identity documents to the firm physically or copies thereof in paper or electronic form.
IDnow’s VideoIdent does just that. All the customer needs is Internet access, a smartphone, tablet or computer with camera capabilities, and their valid identity document. VideoIdent enables identification by video chat whilst considering all the requirements outlined in the Money Laundering Act, data protection directives and the requirements laid down by the respective supervisory authorities (e.g. BaFin, FIAU, FINMA or FMA).
To ensure business continuity, IDnow recently received authorisation by the independent testing institute TÜV IT, for the operation of video identification via remote working. The certification proves that the security measures carried out by IDnow in remote working environments achieve an equivalent security level as in the certified high-security IDnow Ident Centres.
While our daily lives continue to be a stark difference to the norm, with pubs still closed and supermarkets on reduced hours, we at IDnow are working hard to support your business to still go on as undisturbed as possible.
Check out our infographic to see how COVID-19 changes customer behavior.