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TORONTO, March 30, 2021 /CNW/ - Manulife is taking one more step towards its ambition of becoming the most digital-centric global company in its industry by leveraging identity verification platform Yoti to accelerate digital registration for customers. The solution uses encrypted and secure technologies including Optical Character Recognition (OCR) data capture and biometric face matching is now available for Manulife Bank's Advantage Account and All-In Banking applicants in Canada.
Manulife Bank applicants will be able to quickly and seamlessly verify their identity by uploading a picture of either their driver's license, passport or provincial photo ID card along with a selfie. If they pass this step, they receive an email within a few minutes to finalize the process. The virtual solution can be completed via any mobile device, laptop, or desktop camera that is enabled to take pictures. While Manulife Bank can already virtually authenticate a customer's identity, Yoti will help further enhance the application process when a customer is asked to provide additional ID validation.
"At Manulife, we're constantly working to make customers' decisions easier and their lives better and our partnership with Yoti is a great example of that," said Hugh Cumming, Chief Information Officer, Manulife Canada. "Our customers have come to expect more self-serve and digital options, and we're pleased to continue to bring innovative solutions to meet their everyday needs."
In the past, verifying a customer's identity typically happens during face-to-face meetings with private bankers or with an advisor. Due to the COVID-19 pandemic, however, many Canadians have had to manage those transactions virtually. Manulife's new ID verification solution will ensure customers' transactions are safer, faster and more convenient than ever.
Manulife has been helping accelerate digital identity services in Canada. In June 2019, Manulife joined the Digital Identification and Authentication Council of Canada (DIACC), making it the first insurer to join other leaders in technology, government and business in the development of a digital identification and authentication framework to enable Canada's full and secure participation in the global digital economy.
About Manulife
Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Canada, Asia, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2020, we had more than 37,000 employees, over 118,000 agents, and thousands of distribution partners, serving over 30 million customers. As of December 31, 2020, we had $1.3 trillion (US$1.0 trillion) in assets under management and administration, and in the previous 12 months we made $31.6 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 155 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.
SOURCE Manulife Financial Corporation
Media Contact: Olivia Jones, Manulife, 439-340-3416, [email protected]
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