HSBC Expat first to adopt new digital ID verification technology

Tiller Technologies is rolling out a digital identity verification solution aimed at streamlining the onboarding process for international customers.

The rollout follows a recent consultation undertaken by the Jersey Financial Services Commission (‘JFSC’), focused on the adoption of digital identity verification systems amongst financial services institutions, and aligns with the obligations set out in Section 4 of the JFSC handbook to obtain evidence of where a customer lives.

The new feature could have the potential to address the banking needs of Expats. Last year Barclays announced that it would be closing the bank accounts of thousands of Expats.

The solution addresses the unique challenges of combining local and international address verification and significantly enhances time-consuming manual document verification processes; this in turn improves the subsequent customer experience.

Tiller is working with HSBC Expat to support address verification for the Bank’s international customers

Collaborating with HSBC will support Tiller’s ambition to deliver digital frictionless onboarding for customers across multiple jurisdictions worldwide, whilst at the same time ensuring compliance with the highest global regulatory standards.

Jonathan Wauton, Co-Founder and CEO of Tiller Technologies 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.”

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