NatWest is to make its digital identity service for legally binding documents via Adobe Acrobat Sign available to customers in the Nordics.
Setting a precedent for other UK banks, NatWest Bank will use OneID’s bank-verified digital identity solution for NatWest’s Structured Finance business in Sweden, Finland and Norway.
Now, any individual who has online banking in the UK, Sweden, Finland and Norway can verify their identity using their local bank ID before signing a NatWest leasing agreement.
The switch to OneID's global integrated system comes after NatWest reviewed the existing verification processes for document and contract signing for its leasing business in the Nordics, concluding that the traditional 'text authorisation' or 'one-time password' approach was inadequate in terms of both efficiency and security.
NatWest first introduced OneID to streamline its Customer Attribute Sharing service for business in the UK last year.
Simon Jacobson, application owner NatWest Nordisk Renting, comments: “Through allowing signatories from across the Nordics and UK to verify their identity with their Bank with OneID and Adobe Acrobat Sign, the business process is being reduced from days to hours, while also allowing us to improve against our commitment to sustainability.”