Compliance

“We are pleased about the audit report, which confirms that our identification solution is FINMA-compliant,” says Thorsten Hau, CEO at fidentity. “Our customers can rely on the assessment of a recognized audit firm, which simplifies compliance with the FINMA Circular Video and Online Identification. This reduces costs for them in the digitization process.”

“Compliance with the requirements of the FINMA circular ‘Video and Online Identification’ becomes easier with fidentity,” says Thorsten Hau, CEO of fidentity.

FINMA Circular 2016/07 “Video and Online Identification” regulates which technical measures and standards must be met when a new customer wants to open an account via digital channels. For example, during the identification process, the image quality of the scanned identity document must be checked, and the data entered by the user must be compared with the machine-readable zone (MRZ). In further checks, the selfie and the photo from the identity document are compared and a so-called “liveness check” is used to check whether the person is real.

As part of the audit, which was conducted in accordance with the ISAE 3000 standard, KPMG tested requirements from eight different categories. In addition to technical criteria, the IT architecture and internal company processes were also scrutinized. “As fidentity provides services for regulated financial service providers, it is crucial that our systems work reliably and that control mechanisms are in place to identify any exceptions in good time and prevent failures,” explains Thorsten Hau, adding, “For us, it goes without saying that we have pen tests carried out on a regular basis to protect our system from unwanted cyberattacks.” Thanks to the hosting partner’s ISO 9001 and 27001 certifications, fidentity also complies with quality management and information security requirements.

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