EQ Bank ~ AI-Powered customer onboarding Qorus Banking Innovation Awards 2022

Customers can now open an EQ Bank account using their government-issued identification (ID), without physically appearing at a bank branch or Canada Post office for validation. Backed by Artificial Intelligence (AI) technology, new customers can use their existing ID, like a driver's license, along with a selfie taken on their mobile phone/computer to match the two images, confirm identity, and help open the account in minutes. This process makes the experience more inclusive for all Canadians. For the first time in Canada, EQ Bank is enabling people from First Nations who wish to use their status card to onboard into the Bank. Privacy and security were at the top of the list when developing this feature, so we never keep any permanent copies of customer photos, and we've also integrated extra security steps to verify emails and phone numbers during onboarding.