Fujitsu teams with fintech five to launch new customer onboarding tech
The tech enables financial institutions to collect, process and verify documents and the identity of new applicants in “less than five minutes”.
Gary Fegan, head of digital financial services solutions at Fujitsu, says Smart Origination “allows financial institutions to leapfrog five years of internal development and concentrate on real customer-focused innovation whilst meeting their regulatory requirements”.
Fujitsu adds that it reduces identity fraud by up to 99% and decreases application abandonment by 40%, “enabling financial institutions to reduce the financial expense associated with fraudulent customers and more easily attract new customers”.
The collaboration between the firms builds on existing relationships and Smart Origination combines each firm’s specialist technology:
- Fujitsu: K5 cloud platform and systems integrator (SI) partner;
- ImageWare: Multi-modal biometrics technology covering voice, facial and iris recognition, and Fujitsu PalmSecure;
- InAuth: Mobile and browser device identification, authentication, risk detection, analysis and risk scoring;
- Intelligent Environments: Digital platform;
- Mitek: Global electronic ID verification;
- Trunomi: Customer consent management and data permissions in compliance with EU General Data Protection Regulation (GDPR).