With Digital Onboarding, credit unions can provide their members with a contact-free experience when opening accounts on both a mobile app and web browser. The move represents an expansion of the Daon-CU*Answers partnership which began in 2018. Daon’s IdentityX Authentication product is already in use by more than 160 of CU*Answers’ member credit unions. Daon is a global biometric identity technology provider.
IdentityX Digital Onboarding allows the account opening process, which traditionally lasts 15-30 minutes, to be completed in 30 seconds or less. In a typical scenario, credit union members can apply for an account by taking a selfie, asserting proof of liveness, and scanning their identity documents. The solution can read identity data—via contactless NFC—from the chip of government-issued ID documents and validate a digital signature from the issuing authority.
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