CU*Answers selects Daon-powered digital onboarding solution

Friday 4 December 2020 10:37 CET | News

CU*Answers, a US-based cooperative Credit Union Service Organisation (CUSO), has selected Daon's IdentityX Digital Onboarding product to cover over 350 of its member credit unions.

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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Keywords: CU*Answers, Daon, partnership, digital onboarding, identity verification, IdentityX Authentication, biometrics, NFC, contactless
Categories: Fraud & Financial Crime
Countries: United States
This article is part of category

Fraud & Financial Crime