The case study discusses how an international banking group modernized its identity verification process to enhance customer convenience while ensuring compliance with the PSD2 Strong Customer Authentication (SCA) requirements. The bank faced challenges transitioning from legacy IT systems to an agile microservices model that could better respond to business needs. The solution implemented was Daon’s IdentityX® security platform, which employs mobile biometric authentication (using factors of possession, knowledge, and inherence) to verify customer identity. This transition facilitated the onboarding of over 5 million customers onto the new digital banking platform, allowing for secure and convenient access to banking services.
- The bank transitioned over 5 million customers to a new digital banking platform using the IdentityX authentication solution.
- The system triggers additional authentication factors based on transaction value, enhancing security via mobile notifications for further verification.
- Customers are provided with multiple authentication options, including facial and voice recognition, promoting convenience and flexibility.
- The use of a single IdentityX infrastructure allows for better resource management and ensures separation of customer data.
- The platform enhances the customer experience, positioning the bank competitively against virtual banks and new market entrants.
- Benefits include compliance with PSD2 SCA requirements, elimination of hardware tokens, and opportunities for deeper customer relationships through upselling via mobile notifications.
