Intelligent CISO Issue 53 | Page 51



To meet rising demand for digital services , TSB has launched a cutting-edge , streamlined onboarding journey for new customers . With the help of biometric technology from Onfido providing a secure and seamless verification process , customers can now open accounts and access mobile banking in just 10 minutes . Paul Davis , Director of Fraud Prevention at TSB Bank , tells us more . s demand for digital

A services continues to surge , TSB has launched a new customer onboarding journey through the TSB Mobile Banking App , which will enable people to access a Spend & Save current account in just 10 minutes .

At the heart of the new onboarding journey are security , speed and convenience for customers . The launch follows a dramatic shift towards digital banking – as customer behaviour continues to evolve .
Currently , 90 % of TSB ’ s servicing transactions and 75 % of its sales are conducted digitally . Additionally , 80 % of new customer signups at TSB happen via a mobile device as increasing numbers of customers bank digitally .
Most secure and seamless journey to date
TSB has partnered with Onfido , a global identity verification and authentication provider , so that TSB customers can sign up for a Spend and Save account simply by taking a photo of their identity document ( ID ) and a short video of their face .
Onfido ’ s award-winning technology first checks that the ID is genuine and then matches it to the user ’ s face using biometric technology . This ensures the ID is not fraudulent and that the person presenting the identity is its legitimate owner and is physically present – making it the most secure journey to date .
Customers can then start their digital journey anywhere , anytime and gain access to all the benefits of the Spend & Save account . The account is underpinned by TSB ’ s award-winning Fraud Refund Guarantee offering customers marketleading fraud protections .
New customers also benefit from a branch network with 220 TSB branches across the UK – as TSB combines cutting-edge technology and a digital focus with its high-street presence .
TSB worked with the Royal National Institute for the Blind to ensure greater accessibility features were at the heart of the design . As such , the new digital journey meets AA standards .
We caught up with TSB ’ s Director of Fraud Prevention , Paul Davis , to find out
Paul Davis , Director of Fraud Prevention at TSB Bank more about the organisation ’ s work with Onfido and how this has enabled it to technologically evolve and innovate .
How did the rising demand for digital services result in the launch of a cutting-edge , streamlined onboarding journey for new customers ?
The way in which TSB onboards new customers is critical to our customer experience . That ' s the first impression that our customers have of the bank so it ' s essential that customers have a seamless and frictionless way to open their accounts , particularly personal current accounts which is our flagship product . At the same time , we ' re exposed to a number of risks and threats in relation to our account opening and www . intelligentciso . com