Now you can open an investment account in Switzerland with just a selfie

Now you can open an investment account in Switzerland with just a selfie

  • Selfies will allow users to verify their identity documents instantly from anywhere in the world and with any device.

Customers of the Swiss subsidiary of the Spanish bank BBVA will be able to digitally sign up for their New Gen investment account with something as simple as a selfie. The entity has announced that it will incorporate biometric technology to connect users to its new service that was launched just over a year ago.

New Gen was introduced on September 2 as a tool for investor clients who prefer to operate “independently leveraging technology” or interested in investing in “more innovative, sustainable and even crypto-active sectors.” BBVA assured that New Gen registration had improved and that it would now allow identity documents and passports from more than 190 countries to be verified in seconds.

Alfonso Gómez, CEO of BBVA Switzerland, stated that the affiliate was “fully confident that the new digital registration process” would allow them to reach customers in more countries. Through biometric technology, they hope to connect New Gen customers who are spread out, above all, in Colombia, Mexico, Peru, Switzerland and Spain.

How does the New Gen novelty work?

As detailed by the bank, the new digital registry of New Gen has been created together with Veridas. This company is specialized in the field of biometrics. Its developers explain that to verify the identity of new customers they will use selfies, but traditional methods will also continue to be used, such as images of identity documents or passports.

In addition, the new system will ask the user to sign the opening contract digitally and will be able to detect fraud more precisely in the registration process. All this thanks to the technology developed together with Veridas.

“The great progress made by image recognition and identity verification technologies, data protection and information security allows us to offer a seamless experience with the highest security standard, avoiding fraud and complex procedures”, reported in the statement.

Rachel Maga
Rachel Maga is a technology journalist currently working at Globe Live Media agency. She has been in the Technology Journalism field for over 5 years now. Her life's biggest milestone is the inside tour of Tesla Industries, which was gifted to her by the legend Elon Musk himself.