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CIBC FirstCaribbean International Bank Selects AU10TIX as Identity Verification Partner
Caribbean bank, CIBC FirstCaribbean, has selected AU10TIX, a global leader in automated identity verification, as a major partner in the bank’s digital transformation. The collaboration will boost the speed and security of customer onboarding and ongoing due diligence processes while enabling a safer, more accessible financial service platform for the 16 Caribbean countries CIBC FirstCaribbean services. This move comes at a time when the majority of consumers are moving from branches to digital platforms for all aspects of banking and, according to a recent PYMNTS study, 79% of businesses will forego growth for security.
AU10TIX has been servicing the financial sector for 20 years, acquiring deep expertise in Customer Due Diligence and KYC as well as balancing compliance, risk, and conversion for brands like PayPal, Saxo, Fondeadora, and Prime Trust.
CIBC FirstCaribbean will utilize AU10TIX to enhance its “Apply Online” service which digitally onboards clients for checking and savings accounts. AU10TIX’s automated solution for identity document verification, liveness detection, and face biometric authentication enables frictionless identity verification results in a matter of seconds during customer onboarding and account log in requests.
“Cybercrime has been pervasive due to the pandemic and many of our habits have changed around how we, as consumers, want to connect with businesses,” said Carey O’Connor Kolaja, CEO, AU10TIX. “Together with CIBC FirstCaribbean, we are creating a platform that responds to these digital trends with faster onboarding, tougher security and data protection, and best-in-class user experience. We are thrilled to partner with CIBC FirstCaribbean to strengthen its identity verification tools and support its journey to becoming the premier digital bank of the Caribbean.”
CIBC FirstCaribbean will launch the service in St. Lucia in July and anticipates rolling out to all other islands in which they do business later this summer. To learn more about CIBC FirstCaribbean and its services, please visit https://www.cibcfcib.com/. For more information about AU10TIX, visit www.au10tix.com.
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