The new system, which allows the bank to onboard new customers using a single document, uses near field communications (NFC) to read their e-passport chip information for user identification.
The e-passports contain NFC chips, which hold the biometric data of users, making them ideal for verification.
Speaking with ITnews, CBA general manager of customer identity and digital security Sascha Thiel said the system was launched in January and has since seen 2,700 customers onboarded.
Unlike conventional verification during onboarding, which uses a number of documents and takes much longer, the new system means that customers can reportedly complete the verification process within a single minute.
While the details of the system and which technology partners were used for the NFC scanning were not disclosed, the bank designed the onboarding flows.
She said the bank uses “a number of big identity providers under the hood as part of our tech stack”.
Thiel also added that the biometric data is not stored by the bank and “is used solely for the purpose of unlocking and verifying that government-issued biometric or photograph”.
The system verifies the chip photo against a customer selfie, both of which are then deleted post-verification.
Thiel said CBA is the first bank with an NFC-based system for customer onboarding.
Currently, the system is accessible within the CBA app for iOS and Android and is accessible to Australian customers.
Thiel said the system is compliant with Aussie privacy legislation and banking regulations for know-your-customer/anti-money laundering (KYC/AML) requirements.
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