As a New Zealand bank, Heartland has had to comply with AML law since the instillation of phase one in 2013. Their commitment to keeping their customer's money safe has seen them develop a tailored biometric solution for on-boarding customers with OriginID. From the bank that prides themselves on doing things differently
The AML/CFT revised 2017 “Identity Code of Practice Explanatory Note” required further rigour on executing CDD (Customer Due Diligence) on customers (existing and new) for reporting entities (Banks and Financial Services firms). As a large number of Heartland’s customers are on-boarded through non face to face methods (including online and over the phone), Heartland wanted to provide an automated, time-saving mechanism to verify a customer's identity, without the need for a customer to go to a third party for verification.
Not only has this improved our customer experience, but it has increased the efficiencies of our staff members. As our OriginID biometrics solution is in real-time, it enables a more frictionless on-boarding process. As soon as a customer completes the biometric process, staff can view the results on a secure portal. There is now no need for a customer to obtain certified ID documents or Proof of Address documents which can be time consuming and inconvenient.
The solution we designed with OriginID to support the AML/CFT process is an easy to use, two-step biometric process designed to speed up and confirm the identity of a customer. The process is initiated by one of our representatives by sending a text or email to the customer. They can either be guided through the process over the phone by our team, or they can complete the identity verification in their own time.
Using a mobile device, the solution enables:
Capturing a copy of a customer’s Driver Licence (NZ) or Passport (any country)
Verifying through a third party that the details captured from their ID are correct
Checking and confirming through a third party that the customer’s address is correct
Taking a video of their face (proving liveness) and biometrically matching the customer’s face to the photo image on the ID document provided.
All of this can take place within five minutes from the comfort of the customer’s own home, car or office, without the need to download any software, and without increasing our risk profile to fraud, while ensuring compliance with AML/CFT legislation.
It is a testimony to the great working relationship we have with OriginID that, within a year, we had not only designed, built and completed a bespoke pilot, but also designed, built, tested and launched a biometric production environment tailored to our specific needs and processes. This is used across Heartland Bank to verify the identity of owners of businesses for loan applications through to trustees investing funds and even farmers seeking livestock loans. We are continuing to work with OriginID to develop the solution further. This includes integrating it fully into our online application workflows. We look forward to a continued fruitful partnership with OriginID.