UBS has partnered with London-based identity verification company iProov to offer automated identity verification during the account opening process.

UBS launched the UBS key4 banking app earlier in the year to enable clients to carry out their banking transactions entirely digitally at any time of day by using video calls to verify client’s identity virtually.

Using iProov face verification technology, UBS key4 customers can now onboard remotely 24/7 by scanning their face against a government-issued document, such as a passport with a NFC chip.

UBS is the first bank in Switzerland to offer this process for account opening in combination with qualified electronic signatures.

Founded in 2011, iProov provides biometric identity authentication of online users. The company last raised a US$70 million equity round in early 2022 from Sumeru Equity Partners.