NatWest has launched a new customer attribute sharing service, which enables a smoother onboarding experience helped by security firm OneID.
In its first deal to offer the service, NatWest is working with OneID to embed the service across a wide range of use cases, including e-document signing and digital onboarding. The customer attribute sharing service is available to businesses as an embedded digital ID solution.
Powered by NatWest’s host of APIs, customer attribute sharing makes it “easy, safe and secure” for customers to consent to businesses accessing bank-held data that will help speed up their online experiences, e.g. when signing up to new services or buying goods online.
The new service also lets customers digitally verify their details when buying age-restricted services like hiring a car.
“We recognise that our customers are spending more time on digital platforms and so we’re focusing on embedding our services in our customers’ daily lives,” said Claire Melling, Head of Bank of APIs at NatWest.
“Moreover, as a trusted institution, we have a key role to play in the emerging concept of digital identity. Our new customer attribute sharing service will provide our customers with a safe, secure and convenient way to verify their identity online, while enabling businesses to speed up and streamline customers’ online experiences.
“We’re excited that, through our collaboration with OneID, businesses and consumers are now experiencing the benefits of this service.”
Customers can also grant permission for businesses to be instantly notified when they update their details, such as their address, to help ensure their delivery details are kept up to date, reducing the time spent on the manual approach.
For businesses, customer attribute sharing enables them to speed up and streamline the online experiences they offer, reducing the risk of fraud by making it easier to verify that customers are who they claim to be.
Martin Wilson, CEO of OneID, added: “We are delighted to be working with NatWest on their customer attribute sharing. As an organisation committed to making the world a safer place, OneID can digitally verify details for over 40 million UK citizens, protecting them from fraud and identity theft when online.
“Our partnership with NatWest will help businesses streamline their customer service and reduce costs, for example when registering new customers or setting up direct debit payments.”
In the months ahead, NatWest has announced it will be signing deals with more providers to bring its customer attribute sharing service to an even wider range of use cases – such as embedding the service in e-commerce journeys.