UBS, the world’s largest private investment bank, is teaming up with Regula, a leading provider of forensic verification solutions, to streamline onboarding and consumer vetting processes in the fight against financial crime.

Regula’s identity verification technologies have now enabled a fully automated onboarding process, which requires minimal action from the consumer to confirm their identity, transitioning away from real time video verification.

Regula’s identity portfolio includes forensic document and face readers with mobile and web- based apps, magnifiers, video spectral comparators, document reference information systems.

The stages of onboarding and authentication are completed simply by scanning an ID document which must be a biometric passport.

Regula’s document reader SDK scans the passports to instantly identify the user with Regula’s OCR engine.

After chip authentication is finished the customer is required to take a live selfie which is compared with the document portrait.