Financial information

BBVA Switzerland’s New Gen account enables digital onboarding based on “selfies”

“For a 100% digital service like BBVA New Gen, offering a simple, secure and multidisciplinary space is essential. We are fully confident that the new digital onboarding process will allow us to reach more people in more countries who want to invest in innovative and sustainable high-impact industries or crypto-assets,” said Alfonso GomezCEO of BBVA Switzerland.

New Gen was launched just over a year ago as a complement to BBVA Switzerland’s traditional private banking model. The product is aimed at a new investor profile who is looking for both financial freedom and security. For this reason, shielding identity verification security is a key priority for growing the business.

Biometric technology allows the bank to expand its reach to increasingly diverse customers, regardless of their geography. To continue its growth, BBVA has chosen to strengthen operational excellence by integrating this new system which recognizes and verifies the identity documents and passports of more than 190 countries. Thanks to New Gen’s open and digitized structure, customers, mainly based in Colombia, Mexico, Peru, Spain and Switzerland itself, have access to a wide range of products and services.

New Gen’s digital integration was developed in partnership with Veridas, a subsidiary of BBVA and an international leader in digital identity verification. In addition to verifying the identity of a new customer using an ID card or passport photo, this new technology performs liveness detection based on just a ‘selfie’. Above all, AI can detect identity fraud through facial biometric technology. The process is completely digital and includes signing the contract.

One of the main advantages of BBVA New Gen is its commitment to investment efficiency, accessibility and democratization.

The system uses artificial intelligence and facial biometric technologies to allow customers to apply for an account instantly, anytime, from anywhere in the world and using any device. Recent breakthroughs in image recognition and identity verification technologies, data protection and information security enable the bank to provide a seamless experience to the highest level of securityprevent fraud without the need for complex procedures.

BBVA New Gen is one of the few platforms in the world where clients can hold, buy and sell crypto-assets in the same way as they invest in traditional private banking asset classes, such as commodities. sustainability or one of more than 11 disruptive themes that are transforming the future.

One of the main advantages of the service is its commitment to efficiency, accessibility and the democratization of investing. The minimum amount required to open an account is fair 10,000 euros, dollars or Swiss francsin total rupture with the customer concept with which the Zurich franchise of the Group has operated for 40 years.

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