An AutoIdent in the Schufa MyConnect hub - The role of the cidaas ID validator!

An AutoIdent in the SCHUFA MyConnect Hub – The role of the cidaas ID validator!

The SCHUFA, any German hearing this company name, immediately thinks of credit assessment, creditworthiness and not without reason. SCHUFA is the largest credit reporting agency in Germany. Besides, it certainly offers a wide range of services, especially for the B2B market. In addition to creditworthiness, SCHUFA’s portfolio also includes fraud prevention and compliance.With the MyConnect Hub, SCHUFA has created a platform that combines a wide variety of identification procedures in a single solution. As the name suggests, the “hub” connects various services, which offers customers and financial institutions more flexibility. The focus is on user-friendly and fully digital (identification) processes.“User-friendly” and “digital” are the keywords for the cidaas ID validator. The cidaas ID validator offers a fully digital AutoIdent procedure, which provides the best customer experience and intuitively guides users through an automated and video-based identity check. In contrast to comparable procedures, one does not have to speak to a real person and is therefore not dependent on specified office hours. In doing so, the cidaas ID validator offers the verification of a wide variety of ID documents for the different trust levels. For regulatory purposes, for example, the ID card or passport can be used, but age verification can also be performed with a driver’s license or other document if required.

The cidaas ID validator GWG compliant and part of the SCHUFA MyConnect Hub

As an innovative identification solution, the cidaas ID validator is an essential part of the MyConnect Hub and, in combination with the finAPI bank reference transfer and the Qualified Electronic Signature (QES) from Bank-Verlag, forms the fully digital contract. This secure identification meets the different, industry-specific regulatory requirements of the world of finance, insurance, and telecommunications. This means that digital identification and contract signing can be implemented from a single source, and the signature of a loan agreement or the opening of a bank account can be implemented quickly and in compliance with GWG.

The SCHUFA MyConnect hub as a platform offers companies and financial institutions easy integration and encapsulates the various services such as the cidaas ID validator in a uniform interface.

This great achievement requires strong partners, who first had to find each other. The paths of the two companies crossed as early as the end of 2021, both companies with great vision and an even greater challenge – to create fully automated, digital identification in accordance with German regulatory requirements. The cidaas ID validator was a pioneer – a solution that mastered all requirements by the Federal Network Agency according to eIDAS and thus the starting signal for the cooperation was given.

After successful technical integration into the SCHUFA myConnect Hub and the drafting of contracts, the digital identification route was successfully accredited in accordance with eIDAS. In the focus of everyone involved, user-friendliness and simplicity, because that’s what the market calls for.

With cidaas to the verified digital identity

An identity check is often associated with opening an account or signing a credit agreement, but the use cases are more diverse than one might think at first glance. Verified identities are the basis for many business models in a wide variety of industries, and are not only essential for online identity verification in the regulatory environment.

In the customer journey, a user often evolves from a weak to a strong identity, with user information being enriched in a context-related and step-by-step manner. This so-called progressive profiling is one of the most important features of a modern (Customer) Identity & Access Management, it enables companies to capture the user’s information at the moment it is needed (context) and over time (progressive). In addition to enriching the user information, the verification of the data is also important, so contact details such as email and mobile phone number can be verified via an opt-in, or addresses can be checked via an address verification service. In many cases, however, other user data must be verified in addition to this information, such as age. An identity check is required in such cases, through which this user data can be checked and results in a verified digital identity of the user.

The document that can be used for verification depends on the expected security level and the required data. An ID card contains many security features such as holograms, while a driver’s license additionally provides the user’s driving license classes. With such verified identities, not only regulatory requirements for opening an account can be met, but also the sale of restricted goods, such as alcohol or tobacco, in e-commerce. However, another very interesting use case is also driver’s license verification in car sharing or vehicle rental. These use cases in particular require user-friendly identity verification in order not to disrupt the customer journey, which is why an AutoIdent process like the cidaas ID validator is perfect for establishing verified identities.

On the one hand, it supports a wide range of documents, from ID cards to driver’s licenses, and on the other hand, it is designed to be very intuitive and user-friendly, ensuring a positive customer journey.

Get to know more about the cidaas ID validator as part of the SCHUFA myConnect-Hub here!