Information technology company Fujitsu’s new customer onboarding technology was developed in conjunction with a quintet of companies.
Developed in partnership with ImageWare Systems, InAuth, Intelligent Environments, Mitek and Trunomi, Smart Origination allows companies to verify documents and applicant identities in less than five minutes.
In a release the companies claim Smart Origination reduces identity fraud by up to 99 percent while decreasing application abandonment by 40 percent.
Smart Origination combines Fujitsu’s K5 next generation cloud platform, ImageWare’s multi-modal biometrics technology, InAuth’s mobile and browser device identification, authentication, risk detection, analysis and risk scoring, Intelligent Environments’ digital platform, ametek’s global electronic ID verification, and Trunomi’s customer consent management and data permissions.
In combination they enable financial institutions to consolidate their digital channels approach and capitalize of a safer and more efficient originations process.
“The aim was to take a best of breed approach for digital origination and account servicing but also deliver this as a truly integrated and aligned solution,” Fujitsu head of digital financial services solutions Gary Fegan said.
“I believe Smart Origination allows financial institutions to leapfrog five years of internal development an concentrate on real customer-focused innovation whilst meeting their regulatory requirements.”