Saturday 18 May 2024
Select a region

Local FinTech company launches digital identity verification solution

Local FinTech company launches digital identity verification solution

Thursday 18 April 2024

Local FinTech company launches digital identity verification solution

Thursday 18 April 2024

A Jersey-based FinTech company has launched a new digital identity verification solution designed to streamline the onboarding process for international banking customers.

The software, developed by Tiller Technologies, follows a recent consultation undertaken by the Jersey Financial Services Commission about the adoption of digital identity verification systems among financial services institutions.

Jonathan Wauton, Co-Founder and CEO of Tiller Technologies, said that the solution "addresses the unique challenges of combining local and international address verification and significantly enhances time-consuming manual document verification processes, which, in turn, improves the subsequent customer experience".

Tiller is working with HSBC Expat to support address verification for the bank’s international customers in a move which the bank says supports its ambition to "deliver digital frictionless onboarding for customers across multiple jurisdictions worldwide, while at the same time ensuring compliance with the highest global regulatory standards".

Ian Gorst.jpg

Pictured: The initiative was lauded by Deputy Ian Gorst, who has political responsibility for financial services.

Mr Wauton said: "Working with HSBC Expat highlights the importance of tech-based solutions in addressing complex challenges in offshore and international finance.

"We worked closely with HSBC Expat to create a strong solution which meets tough cross-border regulations, and which fits with the JFSC’s consultation efforts.” 

Nicola Gardner, head of digital at HSBC Expat, added: "Incorporating an automated address check solution into our onboarding process reflects our commitment as a bank to provide a fully customer-centric approach.

"Our aim is to enhance the speed and efficiency of onboarding for our customers, wherever they are in the world. It also underlines our ambition to drive our own growth safely through the adoption of digital solutions that align to cross-border regulation.”

Deputy Ian Gorst, the Minister with political responsibility for Financial Services, said: “The Jersey government is actively working with financial institutions and regulated businesses to promote the adoption of cutting-edge technology, such as digital onboarding services, for improved operational and regulatory practices.

"As such, I am really pleased to see this Jersey-based initiative.”

Sign up to newsletter



Comments on this story express the views of the commentator only, not Bailiwick Publishing. We are unable to guarantee the accuracy of any of those comments.

You have landed on the Bailiwick Express website, however it appears you are based in . Would you like to stay on the site, or visit the site?