Study shows 68% of wealth management customers in the post-COVID world are expecting a fully digital onboarding experience. Wealth management firms are accelerating investments in front-office technology to encourage growth while also creating efficiencies and meeting changing customer demands. While projections indicate a full economic recovery will not occur until 2022, wealth management firms expect to start growing their IT investments throughout 2021 in preparation for the rebound. The crisis has led some firms to adopt new technologies (digital onboarding, hybrid advice, cloud) and cast away antiquated manual practices (traditional onboarding, legacy platforms) that would have taken many years to change. Although much uncertainty (due to COVID) remains, it is imperative that companies invest in the appropriate tech solutions so they can keep pace or “risk being eclipsed by competitors.
Fidelity National Financial, provider of title insurance and transaction services to the real estate and mortgage industries, has announced Notarize inHere® and the expansion of its Digital Closing Services team. Both Notarize inHere and Digital Closing Services are part of FNF’s focus on providing a guided digital closing experience within the inHere® Experience Platform for consumers and real estate professionals involved in real estate transactions. Notarize inHere is embedded within FNF’s inHere Experience Platform, which makes starting, tracking, notarizing, and closing the purchase, sale, or refinance of a residential property straightforward and efficient. In addition to the innovative Notarize inHere technology, FNF offers expert Digital Closing Services to clients and consumers participating in online notarization. This team of digital signing specialists is available to assist all parties through every step of their digital closing and online notarization. They are dedicated to assisting with all technology requirements to ensure a compliant digital closing and online notarization, as well as executing a smooth signing experience. The following features of Notarize inHere are fully supported by the Digital Closing Services team:
- Notarize inHere is now available and being utilized by FNF operations closing transactions in all 30 online notarization approved states;
- Notarize inHere allows consumers to have their documents notarized via a remote online notary video session leveraging the proprietary inHere solution and experience;
- Notarize inHere complies with the rigorous service and security standards FNF places on settlement services it provides;
- Notaries whose services are available through Notarize inHere are approved by one of the FNF family of title companies;
- All Notarize inHere remote online notarizations are backed and protected by the nation’s leading family of title insurance underwriters
- Electronic signature pioneer Cryptomathic, and IT security solutions provider UTIMACO has unveiled a joint Qualified Electronic Signature (QES) solution with a uniquely advanced security model designed to accelerate digital transformation in banks, governments and other Trusted Service Providers. The solution enables such providers, whose processes must comply with mandates for strong authentication, to extend the functionality of their existing user authorisation solutions to allow customers to sign transactions, documents and data online at the highest possible level of legal assurance, from anywhere and at any time. Cryptomathic’s Signer platform is one of an elite few remote Qualified Signature Creation Devices (QSCDs) to be certified against the latest eIDAS protection profile. It is also the first to place its Signature Activation Module (SAM) firmware inside UTIMACO’s eIDAS certified Hardware Security Module (HSM).
- This consolidated security model ensures the signing payload can only be executed from inside UTIMACO’s protected cryptographic environment, making it significantly more resistant to attack, including from insiders. Signer’s What You See Is What You Sign (WYSIWYS) functionality also provides strong non-repudiation and addresses long term validation signature profiles for XML and PDF documents, while being able to leverage existing IT infrastructure. The combination of these factors, together with the vendor agnostic nature of the solution, means that providers can now seamlessly introduce highest assurance level remote e-signature services as a function of their existing authentication systems, without disrupting either their customer experience or back-end operations.
TruNarrative and ieDigital have joined forces to facilitate digital transformation and provide cutting edge customer onboarding and monitoring processes, reducing account opening time to less than four minutes. The partnership will provide Banks and mutual societies access to market leading ID verification, eKYC, AML and account monitoring technology. Financial institutions will be able to access TruNarrative’s cutting edge financial crime prevention, compliance and onboarding through ieDigitals platform. The partnership delivers firms the ability to build bespoke and complex customer journeys in no code cloud based environments, for secure, compliant, low friction customer onboarding and monitoring.
Nielsen is rolling out a new approach to measuring digital traffic in a way that doesn’t rely on the soon-to-be-obsolete digital identifiers. The approach will use two ways to measure digital traffic based on whether a device is logged in or logged out. As with some of Nielsen’s recent tweaks to digital measurement, the firm’s cookieless audience and outcome measurement approach relies on its ever-present panel and machine learning to measure digital behavior without relying on cookie data that presently underpins much of digital media. For logged-in accounts, Nielsen will rely on first-party data, including hashed email addresses, Unified ID 2.0 and select self-reported demographic labels. For logged-out traffic, Nielsen will use a machine-learning model that leverages contextual data signals—time, browser, content and device information, and Federated Learning of Cohorts (FLoC) groups—and measure that model against Nielsen’s panel to confirm accuracy. Nielsen’s approach looks to eliminate its reliance on digital identifiers entirely while still providing advertisers and publishers the data they rely on to make business decisions. The new approach to measuring authenticated and unauthenticated digital traffic will enable Neilsen to scale across channels and platforms to ensure a comprehensive view of success and uncover areas for optimization. Implementing these new tools gives Nielsen some more room on its runway before the official end of the cookie.
Australian iPhone users will be able to use their mobile devices as part of their healthcare experience, with HICAPS practitioners in the country now accepting digital health insurance cards held in Apple Wallet. The change for HICAPS (Health Industry Claims and Payments Service) simplifies the claims process for Australian clients. Members of Medibank, Bupa, nib, and GU Health can now download their digital membership card from their health fund app, and add it to Apple Wallet. Rather than swiping a plastic card, users will instead be able to tap their iPhone or Apple Watch on any HICAPS terminal to make a claim. Real-time notifications will be provided to the user, provided via their health fund’s app. As is standard for Apple’s products and services, security and privacy are maintained with the new system. The health insurance membership card’s customer identifier number is encrypted during transmission to the HICAPS terminal, before being decrypted and passed along to the customer’s health insurer.
Quantum encryption technology company Arqit has signed a contract with law firm Dentons (London) to co-develop a quantum safe, self-sovereign identity system (SSI), which allows users to control their own identities and selectively grant access permissions to firms. The new product is called QuantumKeep. It transforms on boarding and compliance checking from a repetitive, burdensome, and time-consuming process that involves transmitting identity documents over insecure channels, into a hassle-free and secure exchange under the client’s control. It allows an initial data capture by one firm that has been granted permission by the user, to be securely stored and represented anonymously to other parties in future – building a chain of growing trust in the quality of the identity. Data is stored in the form of blockchain and combined with Arqit’s patented quantum digital signature technology.