CIBC FirstCaribbean International Bank Selects AU10TIX as Identity Verification Partner

AU10TIX identity verification will enable CIBC FirstCaribbean to offer a safe and speedy digital verification experience to its 10 million customers

Caribbean bank, CIBC FirstCaribbean, has selected AU10TIX, a global leader in automated identity verification, as a major partner in the bank’s digital transformation. The collaboration will boost the speed and security of customer onboarding and ongoing due diligence processes while enabling a safer, more accessible financial service platform for the 16 Caribbean countries CIBC FirstCaribbean services. This move comes at a time when the majority of consumers are moving from branches to digital platforms for all aspects of banking and, according to a recent PYMNTS study, 79% of businesses will forego growth for security.  

AU10TIX has been servicing the financial sector for 20 years, acquiring deep expertise in Customer Due Diligence and KYC as well as balancing compliance, risk, and conversion for brands like PayPal, Saxo, Fondeadora, and Prime Trust. 

CIBC FirstCaribbean will utilize AU10TIX to enhance its “Apply Online” service which digitally onboards clients for checking and savings accounts. AU10TIX’s automated solution for identity document verification, liveness detection, and face biometric authentication enables frictionless identity verification results in a matter of seconds during customer onboarding and account log in requests. 

 “Cybercrime has been pervasive due to the pandemic and many of our habits have changed around how we, as consumers, want to connect with businesses,” said Carey O’Connor Kolaja, CEO, AU10TIX. “Together with CIBC FirstCaribbean, we are creating a platform that responds to these digital trends with faster onboarding, tougher security and data protection, and best-in-class user experience. We are thrilled to partner with CIBC FirstCaribbean to strengthen its identity verification tools and support its journey to becoming the premier digital bank of the Caribbean.” 

CIBC FirstCaribbean will launch the service in St. Lucia in July and anticipates rolling out to all other islands in which they do business later this summer. To learn more about CIBC FirstCaribbean and its services, please visit https://www.cibcfcib.com/For more information about AU10TIX, visit www.au10tix.com 

Source: CIBC FirstCaribbean International Bank Website

 

ABOUT CIBC FirstCaribbean 

CIBC FirstCaribbean is a relationship bank offering a full range of market leading financial services through our Corporate and Investment Banking, Retail and Business Banking and Wealth Management segments. The bank is located in 16 countries around the Caribbean, providing banking services through approximately 2,900 employees in 64 branches and offices. CIBCFCIB is one of the largest regionally listed financial services institutions in the English and Dutch speaking Caribbean, with US$12 billion in assets and market capitalization of US$2 billion.

About AU10TIX 

AU10TIX, an identity management company headquartered in Israel, is on a mission to obliterate fraud and further a more secure and inclusive world. The company provides critical, modular solutions to verify and link physical and digital identities so businesses and their customers can confidently connect. Over the past decade, AU10TIX has become the preferred partner of major global brands for customer onboarding and customer verification automation—and continues to work on the edge of what’s next for identity’s role in society. AU10TIX’s proprietary technology provides results in less than 8 seconds, enabling businesses to onboard customers faster while preventing fraud, meeting compliance mandates and, importantly, promoting trust and safety. AU10TIX’s most recent investment is $80M from TPG and Oak HC/FT to fuel growth and innovation. AU10TIX is a subsidiary of ICTS International N.V. (OTCQB: ICTSF).

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