The extraordinary situation in Switzerland and the associated restrictions to mobility have spurred Maerki Baumann into accelerating the digitization of the bank’s business model. With immediate effect, prospective new clients can confirm their identity from home thanks to a straightforward – and, above all, secure – process based on digital/video identification.

In keeping with our tried-and-tested principle “trust has a future”, we cultivate a long-term, partnership-based relationship with our clients. We give particular importance to close client focus, fast decision-making, and personal contact. Owing to the extraordinary situation in Switzerland, we had to forgo client events, business travel and client meetings. Therefore, it was not an option via the traditional channels to identify prospective new clients, which is obligatory for regulatory reasons prior to the commencement of any business relationship.

Greater efficiency in day-to-day business
Thanks to the digitization of the personal identification process, we can now carry out an accelerated, straightforward confirmation of a client’s identity in a secure way, without the person in question having to leave home. Here we are collaborating with Swisscom (Switzerland) Ltd. – a proven partner in digitization. The entire process, which is overseen by specially trained Swisscom employees, lasts a maximum of five minutes and can be conducted in a number of languages. In addition to a valid ID document, the new client must have a computer with a webcam and a microphone, as well as a mobile phone. Of course, smartphones or tablets can also be used.

“This new service is above all of great benefit to people who are affected by travel restrictions, such as new clients from Germany”, explains Dr Stephan A. Zwahlen, Chief Executive Officer. Fortunately, new clients from Switzerland can also visit the bank to have their identity confirmed, now that the rigorous lockdown measures have been lifted.

Confidentiality the be-all and end-all
The client onboarding process has been complicated since March 2020 by the rigorous rules on hygiene and social distancing. With the option of digital identification, this has now become much more efficient. Here too, we set great store by confidentiality. For example, we adhere rigorously to both Swiss and EU data protection legislation: data and images generated are held by Swisscom only as long as it takes for these to be transferred to us via a secure connection.

Digitization goes a step further
The launch of digital identification is a further step in the implementation of our digitization strategy: “In the second half of the year we will be introducing our new mobile banking solution, which provides clients with additional ways of collaborating with their contact partners at Maerki Baumann”, reveals Stephan Zwahlen. This shows how the bank is keeping pace with the growing significance of electronic service and communication channels, without in any way jeopardizing person-to-person interactions.