Erste Bank is introducing video-based online identification to new customers, just three weeks after the technology received approval from the Austrian Financial Market Authority (FMA).

Using IDnow’s Video-Ident solution, people signing up to the bank’s services online can now choose to identify themselves directly via video chat, saving themselves time they would normally use visiting a branch.

In order to complete the verification process, users need to present a government-issued photo ID via the video chat. The entire account opening process takes less than 10 minutes, it is claimed, with users selecting their preferred bank branch on a city map via geolocation features.

The service can be accessed any time between 8am and 12pm and on any day of the week. The verification will initially be used for opening current and student accounts, before launching for other products over the course of the year.

Thomas Schaufler, chief retail officer at Erste Bank, commented: “We are the first large Austrian bank to offer this innovative option to new customers, implementing it just three weeks after the authorities approved the procedure.”

Michael Sittek, managing director of IDnow, added: “Our video-ident process facilitates a seamless transition from opening an account to handling banking transactions for Austrian customers of Sparkassen. For users, identification with ID now video-ident is comfortable, fast and legally secure.”

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