Major Canadian Bank Embraces Selfie Onboarding

The BMO Financial Group is rolling out a new remote onboarding service for Canadian customers. The Selfie ID solution operates much like other digital onboarding platforms, using facial recognition to compare a selfie to the image on a government ID.

At the moment, the Selfie ID service is only compatible with photo IDs from the Canadian government, and specifically with driver’s licenses, passports, and permanent residence cards. To use it, new customers will first need to take a photo of their ID, and then take a selfie for the biometric match. Selfie ID will verify the authenticity of the document and cross-reference it with the person in the photo, and allow the customer to open a bank account or sign up for a credit card if it determines that everything is legitimate.

The solution builds on BMO’s existing Automated Digital Enrolment service, and is designed to make it easier for people to sign up for an account on a mobile device. Those who use the service will not need to step foot in a branch location, and will instead enjoy a simpler and faster screening process.

Selfie ID is part of a broader digital transformation for BMO. The financial institution has also launched a BMO Quick Pay service that can automate certain bill payments, and now allows customers to change their PIN codes and apply for a line of credit through its online and mobile banking channels.

“We have continued to evolve the onboarding journey with a simple and digital experience that meets customers where they are,” said BMO Chief Digital Officer Mathew Mehrotra. “Selfie ID is another example of how we are building a digitally-enabled, future-ready bank, while helping our customers make real financial progress.”

BMO previously worked with Mastercard to launch a Selfie Pay service all the way back in 2016. The new Selfie ID solution reflects the broader interest in digital services during the pandemic, which has led to record growth for multiple providers of onboarding technology.

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(Originally posted on Mobile ID World)

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