Just last week I was part of launching DNB ID, an app making it possible to safely and securely identify people regardless of nationality, using a phone, passport and face.

I work in DNB (Norway’s largest financial institution) where we each year have over 80.000 passport based identifications. This could be related to customer on-boarding, transactions etc., but especially regulations and requirements related to AML (Anti Money Laundry) and KYC (Know Your Customer), is a big issue.

One of the pain points in that regard is correct and updated identification, and being a Norwegian bank with an international network, cross border identification gives us even more challenges.

On issue is of course the amount of resources we need and use, but that is really an inward looking approach. If we focus on our customers, the regulations affecting us, really affects our customers as well. It is our customers and clients that actually have to meet in person or use other often time consuming methods to prove their identity. I believe our new DNB ID really can solve the pains our customers meet in their journey to get identified.

As a start we are going to implement our new solution to some of our processes, to really test and gather customer experiences. When everything goes as planned, we are going to release a version that anyone we need to identify can identify themselves, using a mobile phone, a passport and their own face.

You just download the app and it guides you through the process, with step by step instructions.

The solution is developed by ourselves, but with technology (IDmee) developed by one of our subsidiary companies DNB Id solutions Ltd.

They provide the technology as a software development kit (SDK), that we have used in our app. When choosing SDK as a solution, we use 3rd party technology and keep full control of the customer experience and pace of development.

I am extremely positive to all measures reducing and removing money laundry risks, and if we can remove any pain-points for our customers in that connection, it would be great.

Do you have any thoughts related to digital identification or how to ease pain points related to identification? Have you experienced technology easing finance-related processes? Do you think digital identification is safe or not?

If you have any thoughts, I would really like hearing from you, so please leave a comment.