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Press Release

Automation of online identification through software merge of fintus and IDnow

Since the approval of GwG-compliant video identification in Germany, many financial institutions have opted for digital customer onboarding. As the leading provider of identity verification as a service solutions in Europe, the Munich-based company IDnow offers the complete conclusion of digital contracts – also via smartphone. The entire process consists of two steps: “video identification” and “qualified electronic signature” (QES is legally equivalent to a handwritten signature). fintus integrates both functions into its software fintus Suite and thus offers financial institutions a secure and complete automation of online requests, contract conclusions and much more. Financial institutions can thus offer their customers a 24-hour service, safe, legally compliant, innovative and above all without wasting their own IT resources.

Benefits for financial institutions at a glance:

  • Significant boost of their conversion rate
  • no media breaks
  • Compliance with all requirements of the Money Laundering Act, the Data Protection Directive and BaFin
  • easy implementation
  • state-of-the-art technology

With the combination of IDnow VideoIdent and eSign within the fintus Suite, customers can conveniently handle their online identification and digital contract conclusions within two minutes from their smartphone. Such seamless, fast processes are an essential prerequisite for online business transactions. “Together with fintus, we will make our technology available to other banks,” says Oliver Obitayo, CSO & CMO at IDnow.

About IDnow
With its Identity Verification-as-a-Service (IVaaS) platform, IDnow has made it its mission to make the networked world a safer place. IDnow’s unmanipulable identity verification is used in all industries in which companies conduct online customer interactions that require a high degree of security. IDnow technology uses artificial intelligence to ensure that all security features are present on an ID document and can therefore reliably identify forged documents. IDnow has over 250 customers, including BNP Paribas, Commerzbank, eventim, Raisin (Weltsparen), Sixt, Wirecard and Fidor, N26, smava and wefox.