More companies and federal agencies are using NFC technology to allow for fast and secure identity verification processes.
PXL Vision expressly welcomes FINMA‘s willingness in the proposed draft amendment to expand the scope of online identification. Since the use of a biometric NFC document chip is an extremely secure procedure, FINMA’s approval within the scope of identification is purposeful and logical.
The process started in November 2020 and new regulations will likely be published by July 2021.
PXL Vision has worked and researched NFC technology since 2018, creating time saving and lower cost tech for their customers.
However, NFC technology is not the only effective method. PXL’s whitepaper responding to the FINMA revision highlights even more suitable options for digital and automated verification of identities that can already be implemented with today’s state of the art technology: https://pages.pxl-vision.com/de/finma-whitepaper (German).