Tiller Technologies is rolling out a digital identity verification solution aimed at streamlining the onboarding process for international customers.

The rollout follows a recent consultation undertaken by the Jersey Financial Services Commission (‘JFSC’), focused on the adoption of digital identity verification systems amongst financial services institutions, and aligns with the obligations set out in Section 4 of the JFSC handbook to obtain evidence of where a customer lives.

The new feature could have the potential to address the banking needs of Expats. Last year Barclays announced that it would be closing the bank accounts of thousands of Expats.

The solution addresses the unique challenges of combining local and international address verification and significantly enhances time-consuming manual document verification processes; this in turn improves the subsequent customer experience.

Tiller is working with HSBC Expat to support address verification for the Bank’s international customers

Collaborating with HSBC will support Tiller’s ambition to deliver digital frictionless onboarding for customers across multiple jurisdictions worldwide, whilst at the same time ensuring compliance with the highest global regulatory standards.

Jonathan Wauton, Co-Founder and CEO of Tiller Technologies said: “Working with HSBC Expat highlights the importance of tech-based solutions in addressing complex challenges in offshore and international finance. We worked closely with HSBC Expat to create a strong solution which meets tough cross-border regulations, and which fits with the JFSC’s consultation efforts.”

Nicola Gardner, Head of Digital at HSBC Expat added: “Incorporating an automated address check solution into our onboarding process reflects our commitment as a Bank to provide a fully customer-centric approach. Our aim is to enhance the speed and efficiency of onboarding for our customers, wherever they are in the world. It also underlines our ambition to drive our own growth safely through the adoption of digital solutions that align to cross-border regulation.”

Senator Ian Gorst, Minister for Financial Services, Government of Jersey, commented: “The Jersey government is actively working with financial Institutions and regulated businesses to promote the adoption of cutting-edge technology, such as digital onboarding services, for improved operational and regulatory practices. As such I am really pleased to see this Jersey-based initiative.”