MoneYou, ABNAmro’s Digital Banking Subsidiary, Integrates Mitek’s Identity Solutions

Mitek today announced that MoneYou, the fully-digital consumer banking subsidiary of ABN AMRO, is using its Mobile Verify® and Mobile Fill® solutions to securely onboard customers while meeting stringent Know Your Customer (KYC) regulations.

Founded in 2001 as a fully digital bank, MoneYou needed a seamless and compliant way for customers applying for a new product to verify their identity from anywhere and at any time.

“I am pleased that we have found a partner such as Mitek that enables us to achieve our customer experience ambitions for onboarding and, simultaneously, meet the ever-growing requirements for ‘reliable’ identification,” says Theo van Bon, Chief Operations Officer at MoneYou.

“Fully digital onboarding has been talked about for some time now, but Moneyou is one of the first to actually put it into practice,” says James DeBello, Chairman and CEO, Mitek. “MoneYou’s mobile onboarding is the living proof that security and convenience can successfully converge in the digital channel.”

MoneYou’s mobile app integrates Mitek’s ID document verification software, which lets users leverage the camera on their smartphone to capture an image of their ID document. Mitek’s advanced algorithms extract the required information from the ID presented to verify the identity and automatically and accurately populate the application form. Background checks and the fully digital onboarding process take one minute, meaning that customers can access their new accounts in a matter of hours.