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By Antoine Van den Bulcke, ABBL
Electronic Identification (eID) offers numerous possibilities, as shown in the following scenario: as a bank based in Luxembourg, a customer wants to use your portfolio management services. Using the customer’s digital identity, you as a bank are able to verify the customer’s identity and perform all due diligence checks. You then send and receive the contract signed electronically by the customer and yourself.
This scenario illustrates the opportunity that eID represents for banks, whether in terms of operational efficiency, security or customer experience. The European Commission has therefore made eID the cornerstone of its Digital Strategy, and intends to put in place the necessary legal framework by 2024....
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