Novia Financial has rolled out a biometric verification tool for client documents in partnership with technology firm Credas.
It will be used to prove that a document truly belongs to the person making the transaction, the platform said, as it offers “an additional layer of protection against stolen identification”.
This means that Novia clients who, in the past, were required to provide copies of their ID and bank statements, will have the option to take a selfie using the software on a smart device and take a picture of their ID document.
The process, however, is subject to adviser consent.
Keeping up with covid
Nick Raine, operations director at Novia, said: “Novia Financial verification measures that have served the business and our clients well over the last 12 years have been tested under lockdown.
“Our adviser base has needed to adapt the operation of their businesses to meet remote working requirements. The cornerstone of how we operate is the safeguarding of client money and assets and we are delighted to further enhance our offering with the adoption of secure biometric verification.”
But Raine said that the biometric tool will not replace existing methods, and it will be up to the client and adviser to choose which identification process to use.
He continued: “We are hoping the convenience and ease of use is received well by both the adviser community and our mutual clients, to allow us to adopt an integrated implementation in the near future.”
