CU*Answers is dramatically expanding the scope of its partnership with Daon. The Credit Union Service Organization (CUSO) has revealed that it will be bringing Daon’s IdentityX Digital Onboarding solution to more than 350 of its member credit unions.
The rollout will more than double the number of CU*Answers credit unions using Daon’s IdentityX technology. CU*Answers has already delivered IdentityX Authentication for more than 160 members since partnering with Daon in 2018. The two companies would later renew that partnership in June, a handful of months ahead of this latest expansion.
IdentityX will enable remote onboarding for customers signing up for an account with one of the participating credit unions. The solution uses document recognition to verify the authenticity of the customer’s identity document, and can also scan the chips in e-documents thanks to its NFC capabilities. In that regard, IdentityX is compatible with more than 6,000 IDs from over 110 different countries.
With IdentityX, the entire onboarding process can be completed in less than 30 seconds through a browser or on a mobile device. Applicants are asked to scan their document, and to take a selfie to ensure liveness detection. The organizations using the platform have access to an Administrative Console that allows them to analyze the data gathered through the system.
The two companies are hoping that the joint solution will help meet the growing demand for online services during the pandemic, and facilitate digital transformation for CU*Answers credit unions.
“CU*Answers will leverage IdentityX to serve its digital onboarding and omni-channel authentication needs, offering credit unions a comprehensive solution and helping their members take control of their digital journeys,” said Daon CEO Tom Grissen.
CU*Answers’ Multiple Authentication Convenience Options (MACO) is built with an IdentityX engine, and offers voice, face, fingerprint, and PIN authentication. Daon, meanwhile, recently opened a new office in Singapore, and has deployed IdentityX in a contactless screening pilot at Denver International Airport.
December 4, 2020 – by Eric Weiss