NatWest partners with OneID to offer digital ID service to businesses

The bank is rolling out the service in collaboration with OneID, across a wide range of use cases, including e-document signing and digital onboarding.

Benefits of the new digital ID service

Supported by NatWest Group’s Bank of APIs, Customer Attribute Sharing makes it easy and secure for customers to consent to businesses accessing bank-held data that will help speed up their online experiences – for example, when signing up to new services or buying goods online.

The new service also lets customers digitally verify their details when buying age-restricted services like hiring a car.

Customers can also grant permission for businesses to be instantly notified when they update their details, such as their address, to help ensure their delivery details are kept up to date.

This can reduce the need for customers to fill in lengthy online forms or scan and upload documents, helping them save time and reducing the risk of manual error.

Faster, safer onboarding with digital ID

For businesses, Customer Attribute Sharing can speed up and streamline the online experiences they offer their customers. And it can help reduce the risk of fraud by making it easier to verify that customers are who they claim to be.

One e-signature provider using the service has already reduced its document signing process from 5 minutes to 45 seconds, thanks to the speedier customer journey that Customer Attribute Sharing enables.

In the future, NatWest Group will be signing deals with more providers to bring its Customer Attribute Sharing service to an even wider range of use cases – for example, by embedding the service in ecommerce journeys to improve the online payments experience.

Officials from NatWest said they recognise that their customers are spending more time on digital platforms and so they’re focusing on embedding their services in customers’ daily lives. Moreover, as a trusted institution, they have a key role to play in the emerging concept of digital identity. Their new Customer Attribute Sharing service will provide customers with a safe, secure, and convenient way to verify their identity online, while enabling businesses to speed up and streamline customers’ online experiences.

Commenting on the partnership, OneID’s representatives said that they are delighted to be working with NatWest Group on their Customer Attribute Sharing. As an organisation committed to making the world a safer place, OneID can digitally verify details for over 40 million UK citizens, protecting them from fraud and identity theft when online. Their partnership with NatWest will help businesses streamline their customer service and reduce costs, for example when registering new customers or setting up direct debit payments.