Therefore, identify verification without physical contact as well as the integration of online signatures for contract execution is currently a significantly increasing trend in the DACH region. Thanks to the cooperation of the credit rating agency CRIF with the German company WebID Solutions GmbH, this modern digital solution is now also available to companies in Austria.
WebID Solutions GmbH is a leading global provider of legally-compliant online products for contract execution and identification, as well as a global pioneer in the Face2Face online identification segment, compliant with the Money Laundering Act. Now companies as well as their customers are able to perform business transactions easily, securely, and paperlessly by means of video conference and online signatures. This brings a number of advantages not only for customers, but also for companies, such as increased process efficiency and a reduction in internal costs. Moreover, fraud and misuse can also be prevented by faster and more reliable authentication. The WebID identification process is officially patented and meets the highest technical security standards. “We are glad to have found a reliable partner in WebID Solutions GmbH so we can offer Austrian financial institutions and companies and/or their customers an ID service which is not only simple and practical, but also secure and legally-compliant”, said Boris Recsey, Managing Director of the credit rating agency CRIF Austria, which offers credit information and innovative solutions to banks, leasing companies, insurance companies, trade and industry in the field of credit risk management.
Identification and signatures, independent of time and place, via video chat
Video conferences for personal identification are already officially recognized by the regulators in some European countries and are therefore increasingly used by companies. In Germany, along with leading banks, credit card companies and insurance companies, other sectors also use the modern, location-independent and uncomplicated solution from WebID Solutions. Credit applications, for example, can be submitted, assessed, granted and completed within a few minutes using this new technology. Identification is independent of time and place, and is made via smartphone, tablet or another web-compatible device with webcam. After the customer has entered his/her personal data into an input screen there will be a video chat with a staff member of WebID Solutions. During the ID check, the customer will hold his/her identity card towards the camera and enter, among other information, the serial number of the ID document. The customer will receive a transaction number (TAN) which needs to be entered into the transaction screen to confirm the identity check. Video authorization can be completed in just three to five minutes and data security is ensured by encryption methods.
What’s more, contracts can now be signed online thanks to the Qualified Electronic Signature (QES) launched by WebID Solutions. As market leader in the field of contract execution using QES, the WebID Solutions’ system is among the most reliable, simple and secure methods for the online execution of contracts without changing the media format.
Increasing demand for the data and solution combination
Recognition of this modern method of customer identification by the Austrian Financial Market Authority (FMA) is expected in early 2017. Due to the cooperation with WebID Solutions, CRIF is already at the frontline and therefore contact #1 in this sector. WebID is continuing on its growth path through this important and strategic partnership. The products of both companies are a perfect match and this combination is in great demand from many markets and industries.
