Aegon has boosted its customer verification process with biometric advancements.
Harnessing biometric technology allows secure identity authentication while reducing the need for physical documentation, streamlining the end-to-end process for a better user experience, Aegon said.
With consumer expectations rising, the pensions and investment firm said the enhancement to its digital identity verification system comes at a crucial time and aligns with the evolving needs of the modern digital finance environment.
During trials, initial pass rates for electronic anti-money laundering and bank verification improved significantly. Where initial checks failed, customers could then verify their identity via biometrics instead of having to provide physical documentation.
Stephen Crosbie, head of retail at Aegon, said: “We recognise the need to balance security with convenience and innovation on our adviser platform. This upgrades our defences against modern digital threats while making the verification process smoother for advisers and clients.
“This is yet another step towards our goal of leading the digital retirement and investment market with secure, user-friendly services.”
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