Called to account in quick time

Central Station | 17 Mar 2017

The business of opening a bank account could soon be so simple you will not need to show up at bank to process papers. Instead it could be done within 10 minutes by going online from a home or office -- wherever's convenient.

There are, of course, complicated systems in play that can make it easy for the customer.

In this case it's thanks to TransUnion and the Hong Kong Applied Science and Technology Research Institude for creating a digital identity certification management platform that can authenticate an identity and personal documents online.

Phase one of the ID authentication technology will be ready by year's end, but applying it in the real world depends on regulators approving it and customers embracing the technology no matter how simple it sounds. There's also the matter of reprogramming the minds of bank personnel.

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