MyBank to start Identity Verification Service pilot

The pilot will start in mid-November 2015 and run until February 2016. The aim of the pilot is to test the MyBank Identity Verification to ensure reliability, security and the usability of the solution.

MyBank is responding to a growing demand for pan-European identity verification services that protect the consumer’s privacy while enabling businesses and public authorities to verify or request information regarding the identity of their counterparties in any online transaction. MyBank Identity Verification will support services such as age verification, customer due diligence, contract agreement, registration or C2C sign-up in the sharing economy. Consumers will be able to protect their privacy by controlling exactly what information is sent to third parties as the transmission of all identity-related information must by explicitly authorised by consumers via their secure online banking platform.

The pilot testing will involve PSPs, service providers and corporates, which will ensure in co-operation that the different components of the MyBank Identity Verification solution work together seamlessly before the solution goes live in 2016. Service providers can participate in the testing either directly or through a partnership with a participating PSP. PSPs are invited to join the pilot with a corporate customer to ensure that the end-to-end testing fully meets the requirements and expectations of all stakeholders.

MyBank is an e-authorisation solution that enables customers to pay for their online purchases via their regular online or mobile banking environment. The solution is open to all authorised payment service providers (PSPs) in the Single Euro Payments Area (SEPA), including, without limitation, credit institutions and payment institutions.