Intrum Justitia to offer video identification and digital signatures

Press release

Schwerzenbach, 2 March 2016

Intrum Justitia to offer video identification and digital signatures

The largest provider of credit management services in Europe and the identification and e-signing provider IDnow are launching a strategic partnership in digital identification and e-signing in Switzerland on 1 March 2016. This involves confirming customers' identity securely via live video chat, enabling accounts to be opened in just a few minutes. The offering is rounded off with electronic signatures to formalise contracts digitally.

Intrum Justitia Schweiz AG (Intrum Justitia) and IDnow GmbH (IDnow) have set up a strategic partnership in digital identification processes. Intrum Justitia is making it easier for its customers to adopt digital verification and accept digital signatures from their customers - by identifying and verifying via the convenient method of live video chat. This enables the customer to sign a legally valid digital contract within just a few minutes.

Doing everything online - digital identification

The cooperation is based on the technology of IDnow, the leading provider of digital identification in Europe and the reach and customer base of Intrum Justitia Switzerland - including call centre staff based in Switzerland.

Thomas Hutter, Managing Director of Intrum Justitia explained: "The ability to confirm the identity of end-customers via IDnow's live video chat opens up a range of possibilities for our customers. We are delighted to be embarking on this partnership in Switzerland. It fits seamlessly into our strategy of offering the Swiss market the full range of digital solutions. Innovative products that enable our customers to cut costs while ensuring increased convenience for their end-customers."

Michael Sittek, Managing Director of IDnow added: "It is great news that subject to approval by the Swiss financial regulator FINMA end-customers in Switzerland will soon be able to confirm their identity securely from their homes or on mobile devices in less than five minutes. This will, for example, make it much easier and quicker for banks and their customers to open accounts."

Digital identification - how does it work?

Currently a customer must present their passport and physically sign a contract in a branch in order to open an account. In future consumers will be able to do this online via a digital identification process. After entering their personal data the applicant completes the process via a live video chat with the financial institution:

1. The call centre agent takes a photo of the applicant and the identity document
2. Verification of the identity document via software & identification of the person
3. The contract is legally signed with an electronic signature

Electronic signatures/digital contracts - e-signing

Intrum Justitia is also incorporating IDnow's e-signing technology, which has been in use in Germany since October 2015, into its product range. Michael Sittek added: "The electronic signing of contracts is the final step towards digitising the entire application process. Providers can lose up to 60% of their customers between the online form being completed and its receipt through the post by the provider. We have solved this problem by means of the digital signature. The IDnow e-signing solution enables contracts to be signed via video identification without the need for any additional hardware or special software."

This completely does away with the time-consuming need to print out documents and send them by snail mail.

Security

Together with IDnow Intrum Justitia will ensure that the identification and electronic signing processes are at all times fully compliant with all data security and data protection requirements in Switzerland. Identification via live video chat and qualified electronic signature will comply with Swiss anti-money laundering legislation. The FINMA circular of 21 December 2015 indicated that the procedure will receive final approval in March 2016.

Press representatives are welcome to contact us with any further questions

Intrum Justitia AG

Media Relations (Michael Loss, Head of Communications)

[phone]

[e-mail]

About Intrum Justitia*

Intrum Justitia is the leader in the field of business information, innovative customer solutions and debt collection in Switzerland and Europe. It has had a presence in Switzerland since 1971 and now employs over 220 staff. They make 40 million credit decisions annually and process around 2 million debt collection cases. Over 8,000 Swiss customers benefit from the payments history in this data pool. In 2015 Intrum Justitia processed collections of over CHF 150 million for the Swiss economy.

intrum.com/ch

*Member of the Swiss Innovation Outpost (SIO) and the Association of Swiss Debt Collection Institutions (VSI)

About IDnow

IDnow is Europe's leading provider of identification and e-signing products. The Munich-based software company develops and distributes secure solutions for personal e-identification and electronic signatures via computer or smartphone. IDnow guarantees compliance with the law and maximum data security for its solutions. IDnow's product range is designed for all business customers who sign up new customers online and would like to offer online identification and contract completion, such as for example direct banks, modern branch banks, loan and finance providers, credit card companies, local authorities and health insurers. Further information is available at www.idnow.de.

Press release, PDF

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Tensid Ltd., Switzerland www.tensid.ch		newsbox.ch www.newsbox.ch		Provider/Channel related enquiries [e-mail] [phone]