You are here: Home - Saving & Banking - News -

NatWest current accounts can now be opened with a selfie

Written by: Emma Lunn
New Natwest customers can open a current account by taking a picture with their smartphone and uploading one piece of photographic identification.

The move means customers will no longer need to go to branch to open an account or send ID documents in the post. Instead Natwest will use artificial intelligence and real-time biometric checks to confirm a customers’ selfie matches the image in their photographic ID.

The bank’s new current account opening process has been launched in conjunction with ID verification experts HooYu. It follows a successful pilot involving more than 60,000 customers, with fraudulent applications dropping significantly during the trial period.

Other banks which allow accounts to be opened with a selfie include Metro Bank, Lloyds and HSBC, as well as digital banks Monzo and Starling.

Frans Woelders, NatWest’s chief digital officer, said: “We know customers want to be able to open accounts at a time and a place that suits them and not have to worry about precious ID documents going missing in the post, or taking time out of their day to go to a branch. That’s why we’re making it easier, safer and faster to open and access accounts, allowing customers to get on with the things that matter.”

David Pope, marketing director at HooYu, said: “In today’s digital age, customers expect to be able to do everything on-demand, they don’t want to have to go into a branch or wait for a day or two for account opening to be completed. Our work with NatWest balances the twin demands of compliance and convenience. Our unique identity platform that combines many forms of identity verification technology is designed not only to bring extra security into the account opening process but also to make customer on-boarding simpler and quicker.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Simple life policy oversight costing Brits thousands of pounds

Thousands of beneficiaries of wills are unnecessarily paying inheritance tax (IHT) on life insurance policies.