Thales Gemalto IdCloud – New bank account onboarding - Thales

Summary

Talis Jamalo ID Cloud is a comprehensive cloud-based platform designed to streamline and secure the digital banking journey. It enhances customer onboarding by using advanced identity verification methods, including facial recognition and passive liveness detection, to ensure trust and compliance. The platform simplifies KYC, risk management, and AML compliance, offering financial institutions a smooth, frictionless onboarding experience while preventing fraud. By consolidating essential services into one API, Talis makes digital transformation efficient and secure, protecting both customers and institutions from fraud and regulatory risks.

Takeaways

• 😀 Talis Jamalo ID Cloud is a cloud-based platform designed to secure and enhance the digital banking customer journey.
• 😀 It helps financial institutions with their digital transformation by ensuring customer trust and regulatory compliance.
• 😀 The platform simplifies the customer onboarding process by allowing users to sign up using just their phone and a few steps.
• 😀 Alice, a typical customer, can sign up for Digibank by taking a photo of her national ID card and a selfie, activating her account.
• 😀 Talis Jamalo ID Cloud uses industry-leading ID document databases to verify the authenticity of IDs during onboarding.
• 😀 The selfie is verified using facial recognition and passive liveness detection, ensuring the true owner is present during the process.
• 😀 Identity proofing establishes that the ID document is genuine, while identity affirmation adds supporting evidence for the claim.
• 😀 Contextual data signals are analyzed in the background to detect suspicious behavior and prevent fraud.
• 😀 The platform lowers the risk of ID fraud and reduces false acceptance rates, improving the onboarding experience for genuine customers.
• 😀 Anti-money laundering (AML) screening is performed during onboarding to ensure global regulatory compliance.
• 😀 Talis Jamalo ID Cloud combines KYC, authentication, and risk management services in one platform, accessible through a simplified API.

Q & A

What is Talis Jamalo ID Cloud, and what does it provide?

Talis Jamalo ID Cloud is a cloud-based platform that secures and enhances the entire digital banking customer journey, from initial onboarding to daily access. It helps financial institutions in their ongoing digital transformation by ensuring customer trust and regulatory compliance.

How does Talis Jamalo ID Cloud help during the onboarding phase?

During onboarding, users can sign up using just their phone by taking a photo of their national ID card and a selfie. The platform verifies the ID and selfie through industry-leading technology like facial recognition and liveness detection, ensuring the user is genuine.

What technology is used for verifying the authenticity of an ID card and selfie?

The ID card is verified through a robust ID document database, while the selfie is verified using facial recognition and passive liveness detection. This process ensures a hassle-free and reliable user experience.

What is the difference between identity proofing and identity affirmation?

Identity proofing is the process of verifying that the ID document is genuine and that the person in question is the rightful owner. Identity affirmation goes a step further, providing additional evidence to support the identity claim.

How does Talis Jamalo ID Cloud handle risk management during onboarding?

Talis Jamalo ID Cloud collects and analyzes contextual data signals to detect suspicious behavior, reducing the risk of identity fraud and lowering the false acceptance rate. This ensures a smooth onboarding experience for genuine customers.

What role does anti-money laundering (AML) screening play in the onboarding process?

Anti-money laundering (AML) screening is performed to guarantee compliance with global regulations, including countering the financing of terrorism (CFT), ensuring that the financial institution follows required legal protocols during customer onboarding.

How does the platform speed up the onboarding process?

The platform simplifies and automates the onboarding process, such as automatically populating registration forms using extracted data from the ID document. This reduces friction and ensures that the process is completed quickly, ideally in under five minutes to avoid high abandonment rates.

What is the significance of speed in the digital onboarding process?

Speed is crucial because if the onboarding process takes longer than 5 minutes, the abandonment rate significantly increases. A fast and seamless process ensures higher conversion rates and a smoother customer experience.

How does Talis Jamalo ID Cloud prevent fraud and protect financial institutions?

Talis Jamalo ID Cloud prevents fraud by implementing measures to stop fraudsters from creating fake accounts for activities like money laundering or cybercrimes. These protective layers ensure that only genuine customers are onboarded.

How does Talis Jamalo ID Cloud simplify the integration process for financial institutions?

The platform simplifies integration by offering a unified solution that combines KYC, authentication, and risk management services into one cloud-based platform, accessible through a single API and requiring only one contract.