Dumping its previous "costly and unpopular" token-based solution for Strong Customer Authentication.
Dutch challenger bank Knab has picked UK startup iProov to provide its customer verification tech, a fintech first for the biometric ID provider.
Knab, which is owned by asset manager AEGON, will use iProov's tech for the onboarding of new customers, along with its Strong Customer Authentication (SCA) process for its nearly 500,000 customers in the Netherlands.
The move will help Knab dump its previous token solution for SCA, described as "costly and unpopular", and move to a more modern all-digital solution.
“A fast and easy onboarding process, with effortless strong customer authentication, makes all the difference in attracting and retaining customers in an increasingly competitive environment," said iProov's CEO and founder Andrew Bud.
"Knab leads thanks to [its] superb commitment to its customers, and iProov is very proud to be part of their best-in-class banking experience.”
In May iProov was selected by the NHS to bring facial recognition to its app, which involved matching a photo of a form of ID, such as driving licence, to a realtime snapshot of a user’s face which will then match a user to their correct medical record.
iProov’s technology is also currently used by the Home Office’s ‘EU Exit: ID Document Check’ app which enables European citizens to apply to the EU Settlement Scheme.
Knab said iProov has already been through extensive testing with the digital bank, but has not yet announced a timeline for the technology to be rolled out.