The Banking Regulation and Supervision Agency (BRSA) had prepared the "Draft Communiqué on Remote Identity Verification Methods to Be Used by Banks" to determine the remote identity verification methods that banks can use when acquiring new customers and verifying customer identity. According to the communiqué published in today's Official Gazette, the practice will enter into force on May 1.
Accordingly, remote identity verification of natural persons will take place through an online video call and communication between the bank employee and the person, without the need for them to be physically in the same place. We can say that the wet signature requirement will be lifted.
So what will change in our lives with this communiqué?
First of all, it is worth stating the following. The communiqué covers only individual customers. The current process will continue for corporate customers.
The purpose of this Communiqué is to regulate the procedures and principles for remote identity verification methods that can be used by banks when acquiring new customers, and for establishing a contractual relationship, whether distance or not, over an information or electronic communication device in place of written form, for the banking services to be offered after the customer's identity has been verified.
Taking possible risks into account, it is mandatory to establish an adequate level of security and confidentiality in the video call held with the customer. The video call must be conducted over encrypted, secure communication.
So what advantages will this practice have?
- With the implementation of the practice, faster and more convenient access to banking services will be provided. It will be possible to save time, cost and labor. The process of becoming a customer can be completed in at most 10 minutes. For banks, paper and document use will be reduced and service costs will be lowered. For customers, an opportunity for a flexible, innovative and open-minded customer experience will arise.
- It will save time, cost and labor. The process of becoming a customer can be completed in at most 10 minutes. It will provide significant convenience for both customers and banks. For banks, paper and document use will be reduced and service costs will be lowered by serving with fewer staff. For customers, an opportunity for a flexible, innovative and easy way of becoming a customer will arise.
The relevant communiqué published in the Official Gazette can be accessed at the link below.
https://www.resmigazete.gov.tr/eskiler/2021/04/20210401-7.htm
