TSB forms partnership with Onfido

UK high street bank TSB has partnered with global identity verification and authentication provider Onfido to launch a new customer onboarding journey through the TSB mobile banking app.

Through the partnership, customers of TSB will be able to sign up for a ‘Spend and Save’ account by taking a photo of their ID and a short video of their face, meaning they can access their current account in “just” 10 minutes, the bank said.

Onfido will provide digital identity verification, including biometric and document verification technology.

According to TSB, 90% of its servicing transactions and 75% of its sales are conducted digitally, while 80% of new customer sign-ups occur via a mobile device.

Kavin Mistry, head of digital at TSB, said: “Demand for digital services is soaring, and we are proud to meet new customers’ needs with a convenient, secure and streamlined onboarding journey – with sign-up in just 10 minutes.

“Today’s launch demonstrates our customer-focused digital offer that complements a modern branch network; offering customers the best in both digital and traditional banking.”

TSB said that among the other new features on its app that improve the customer onboarding process are email and device verification for increased fraud protection, while consumers are now required to answer 22 questions to open an account, down from 49.

Dimitrie Dorgan, senior fraud risk manager at Onfido, added: “Security and a smooth user experience are paramount for banks when it comes to building trust with their customers.

“With Onfido’s AI-powered technology, identity verification is streamlined for a user-friendly onboarding process while conducting strong fraud detection and mitigation in the background.”

Earlier this month, TSB unveiled a payments app for its small business customers in partnership with banking technology platform provider Bankifi.