BBVA uses cutting-edge biometric authentication techniques to launch new digital sign-up
BBVA, a pioneer in the area of immediate private customer enrollment, has enhanced the sign-up process over its digital channels. Last year, the Bank announced the creation of Veridas, a technology company, specializing in the development of new identification and authentication systems. BBVA founded the new company with Das-Nano, a startup based in Spain’s northern Navarre region. The joint venture has borne fruit: now any person – whether a private individual or a self-employed worker – can sign up as a customer, from anywhere and at any time, by simply sending the bank a photograph and video.
BBVA is the first Spanish bank to provide functionality that allows any person to become a customer using digital channels. As of today, 27 percent of new customers have used this process to join the bank. The rise in this figure can be attributed to the offer of joint accounts, available since February. With the enrollment channel now open to the self-employed, there are even more kinds of customers who can use this simple process to join the bank in only a matter of minutes.
“By making immediate enrollment available to the self-employed, we have improved our service-offering for an important segment of Spain’s business landscape. A segment that often does not have time to go to an office to manage their financial matters. It is also the best way to open the door to the rest of the services offered in BBVA’s app.” asserts Leyre Baltza, Head of Customer Acquisition for BBVA Spain.
The latest in biometric technology
BBVA has enhanced its immediate sign-up process thanks to a technological development in biometric identification created by Veridas. The system, which is being rolled-out over time, consists of the verification of documents to confirm the individual’s identity, followed by biometric authentication of the potential customer, using a photograph and video. The process, which is cutting-edge in the Spanish banking system, simplifies the current process and facilitates immediate customer enrollment with BBVA for the self-employed and individuals.
BBVA closed June with 3.6 million mobile customers. With these users, the BBVA app exceeds 50 million monthly sessions, which makes this channel the fastest growing in use. Digital channels bolster customer loyalty: there is 24 percent less churn for digitally active users as compared to non-active customers. This improvement to the bank’s sign-up process represents easier universal access to BBVA, whose app was recently recognized for the second year in a row by Forrester Research as the best in Europe.
All services in a single account
Self-employed customers who use the immediate enrollment service will be able to sign up for a business account and business card to be used exclusively for business purposes. This service has no charge; the business customer only needs to set up automatic transfers for taxes, social security, and/or employee salaries. All without leaving his or her office.
Business account customers can manage all their necessary day-to-day banking needs using BBVA’s app, such as paying social security, employee salaries, or taxes – VAT, IAE, personal income or other business taxes – directly from their account. Additionally, ordinary euro transfers using the digital channels, sending checks in euros, and the trading and clearance of checks in euros drawn at national banks, will have no commissions.
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