Tatra Banka Now Offers Biometric Verification to 3rd Parties, with Technology Powered by Innovatrics

The service will allow companies to remotely verify their customers simply by integrating the bank’s API

Tatra banka, one of the top 3 banks in Slovakia and a part of Raiffeisen Bank International Group, is now offering its biometric verification as a service to the companies. “As soon as we started offering banking verification in 2018, our company clients have expressed a wish to also use the technology,” explains Lukas Rybar, Product Manager at Tatra banka. The technology has been built on the Innovatrics biometric algorithms by integration partner Softec and is used to open banking accounts remotely for five years now.

Tatra banka is one of the first banks to provide this kind of service. The bank provides technology to verify customers with the decision being made on the side of the 3rd party so that the client has the verification of its users fully under control. The bank already has the first companies that are already implementing the solution. “Biometric algorithms of Innovatrics power remote onboarding for companies all over the globe, but we started with Tatra banka. And we are delighted that Tatra banka pushes its trust in our technology further, by providing its advantages to its customers,” adds Daniel Ferak, Head of the Remote Identity Verification Unit at Innovatrics.

The technology compares the selfie of the user with the photo from the ID and performs a liveness check. It can also cross-check with the database of the Ministry of Interior to increase the security of the solution and prevent ID fraud. The bank is currently adding passports and other IDs to the list of supported IDs. The foreigners in Slovakia will still have to verify in person due to AML restrictions.