Commerzbank’s previous experience showed that alternative methods known as “Bank Branch Legitimation” and “PostIdent” did not meet their requirements in three major metrics: user experience, conversion rate, and data quality. In addition, the process was further complicated by regulation, which requires opening an account online meet the same legal criteria as traditional analog procedures. Additionally, Commerzbank needed a way to address and exceed customers’ expectations in usability and mobility.
Commerzbank was one of the first banks to implement video identification.
A step that has paid off – with significant user acceptance and conversion rates. The impact on their digital business success speaks for itself!