Bratislava, April 4, 2021 – OVB Allfinanz Slovensko, a company operating on the market in the field of financial brokerage in Slovakia for the longest time, is currently extending the portfolio of its digital solutions by a novelty – facial biometrics. After the introduction of electronic documentation (2012) and biometric signature (2016), this is another technology that saves time for customers and brokers and facilitates client service. Facial biometrics allows you to verify the identity of the client remotely at the beginning of the cooperation as well as when updating personal data and can fully replace the manual entry of data in this regard. It is a solution based on advanced technologies used by banks, insurance companies and telecommunications operators. OVB is already now considering the possibility to extend the use of facial biometrics, for example for protocol verification, registration of new co-workers and other internal documents.
Effective solution to start the cooperation as well as to change personal data
„OVB has been the strongest financial brokerage company in Slovakia for almost 30 years, also because it mainly focuses on quality client service. Facial biometrics is another step that will allow us to make our service even more efficient and even more comfortable for the clients,“ said Marek Mihok IT Director at OVB Allfinanz Slovensko.
According to the legislation, a financial advisor is obliged to verify the client’s identity at the beginning of the cooperation with her/him. It is similar to a bank, where personal data is also verified when opening an account. The financial advisor is obliged to verify whether the personal data belongs to the person with whom he/she is communicating. Until now, a personal meeting was necessary for this, but thanks to facial biometrics, it is also possible to check this remotely. „This is an ideal solution that allows you to verify the identity of the client no matter where he/she is. By automatically downloading data from the ID card, we minimize typing errors and save time for clients and financial brokers,“ adds M. Mihok.
OVB plans to use facial biometrics not only when establishing a client relationship, but also later when updating personal data. For example, if a client has a new ID card, changed an address, e-mail, or telephone number, all he/she has to do is identify himself/herself with his/her face and scan a new document. Another fundamental advantage of the deployment of facial biometrics is higher efficiency in brokerage thanks to time savings and elimination of random errors when entering personal data into the database. In the future, the client will also be able to log in to the client zone with facial biometrics.
Facial biometrics scans the face features and verifies the so-called liveness
When creating a new client in the OVB CRM system, the broker sends a unique link to the client that allows him/her to open the application. After the initial consent to the processing of personal data and permission to access the camera, the client first captures both sides of the ID card and then takes a photo of her/his face.
The key step in verifying the identity is the so-called Liveness Check when the client watches the movement of an asterisk with her/his eyes while scanning the face. „This step is used to verify that the whole process is performed by a live person and is not just scanning a photo of the face. In this step, the client is actively engaged by watching a moving asterisk on the screen of the device, which appears in randomly generated positions. The software then evaluates, whether a living person is actually being verified, based on biometric data of face and eye movements,“ explains Peter Varga, Director of Insurance and Brokerage Division at SOFTEC, the company providing the solution for OVB.
The identity verification solution using facial biometrics from SOFTEC is currently used in the banking, telecommunications and brokerage segments in the Slovak and Czech Republics. „ The nFinity solution for remote client identity verification via facial biometrics is an important element in digitalization of the financial brokerage process. Facial biometrics based on Innovatrics technology creates secure, fast and intuitive identification, which the client performs on his/her smartphone by simply scanning an identity card and creating a selfie photo. Regardless of where the client is physically located, the identity verification can take place remotely and the co-worker can easily resolve all matters,“ P. Varga explains the details of the solution.
The nFinity solution, which is used by OVB Allfinanz Slovensko, is delivered in the form of SaaS (Software as a Service), in which the entire service runs in a modern cloud environment. In addition, the solution is connected to other processes, e.g. specific signing of documents with an authorization code directly in the application immediately after verifying the identity of the signatory and granting the consents.