Softec partners in a breakthrough innovation in the financial sector

08. August 2018

Bratislava, August 2, 2018 Tatra banka, the long-time most innovative bank in Slovakia, has partnered with Softec in a breakthrough digital banking project.

The aim of the project was to enable to open a current account fully online (so-called client digital onboarding). It guarantees new clients’ verification on the basis of the biometric features of their face. New clients do not need to be physically present at the branch of the bank. Softec linked the world of state-of-the-art artificial intelligence from Innovatrics in the banking sector and brought a new way of identifying people to the world of finance. As a result of this successful project journey, Tatra Banka clients may open a current account or obtain a consumer loan while enjoying the comfort of their home anywhere in the world and at any time . And all this instantly in a matter of minutes completely online. This is a very unique project in Slovakia and in the Czech republic, potentially even first globally. Its uniqueness lies primarily in the combination of biometrics and public registers in the commercial sector. According to recent surveys, up to 30% of the total number of newly opened current accounts and more than 50% in the target group of youngsters are created using digital onboarding.

Peter Ivanka, senior manager: “We are proud to be able to work with breakthrough innovations and implement them in practice with our partners. In the end, we bring innovations directly to ordinary people and make life easier for them. By joint efforts with Innovatrics and Tatra Banka we have greatly simplified new clients’ access to banking services. Digital onboarding, however, is highly relevant not only in the financial sector, but also in insurance, telco, public services and many other areas.”

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