Tesco Bank partners with Onfido to enable secure, streamlined onboarding for Tesco Clubcard Pay+ customers
8 March 2022
Rapid identity verification, using biometric technology, enables a seamless customer journey for users.
Tesco Bank today announces a partnership with Onfido, the global identity verification and authentication provider. Onfido provides a secure application process for new Tesco Clubcard Pay+ customers, following the launch of the new product in January.
Tesco Clubcard Pay+ is an innovative first for the UK market, allowing Clubcard members to pay with their Clubcard and pick up extra Tesco Clubcard points wherever they shop. Shoppers can add money and ringfence their grocery spend from any UK bank account into their Tesco Clubcard Pay+ account, using the free Tesco Bank mobile banking app. Clubcard Pay+ also gives shoppers the power to save while they shop by rounding up their purchases to the nearest pound, saving the difference into a Round Up account. Tesco Bank also plans to introduce additional features to Clubcard Pay+ which will further help families to budget and save whilst being rewarded for their spending.
Tesco Bank’s partnership with Onfido enables a smooth and fast online user journey for customer applications by using digital identity verification to streamline the process. Rather than filling out postal applications, customers can apply directly through the Tesco Bank mobile banking app. Users simply take a photo of their government-issued identity document (ID) and a selfie. Onfido first checks that the ID is genuine and then matches it with the user’s face. This ensures that the person presenting the identity is the rightful owner of the ID and is physically present. This will allow customers to prove their identity anywhere and anytime with a quick and user-friendly process to open an account.
“The world of banking and e-commerce has changed significantly in recent years and customers are increasingly looking for integrated, seamless experiences,” said Sigga Sigurdardottir, Chief Customer Officer at Tesco Bank. “Tesco Clubcard Pay+ uses the Tesco Bank mobile banking app to deliver the latest measures and technology to give customers confidence and the highest levels of protection from fraud. By partnering with Onfido, we’re building on our reputation as a trusted high street bank with the addition of innovative technology that gives customers the best digital experience possible.”
Onfido’s advanced identity verification prioritises security, preventing fraudulent application attempts while meeting all industry regulations designed to keep users and businesses safe.
Onfido’s unique SDKs, now integrated within the user-centric design of the Tesco Bank mobile banking app, includes glare and blur detection, which provides real-time feedback to help users submit high-quality pictures for document verification. Additional features, such as Optical Character Recognition (OCR) Autofill, extracts data from the ID to prefill the application form to streamline the account opening process further. Clubcard Pay+ customers can benefit from this improved experience using a desktop computer, laptop, tablet or smartphone.
"By combining decades of banking experience with advanced biometric and AI technology, Tesco Bank is now able to accelerate the account opening process for new Clubcard Pay+ customers,” said Mike Tuchen, Chief Executive Officer at Onfido. “The innovative technology provided by Onfido underpins a seamless and secure application experience that protects customers and provides them with a streamlined access to Clubcard Pay+."
Onfido is simplifying digital identity for everyone. The company makes it easy for people to access services by digitally proving a person’s real identity by verifying a photo ID and facial biometrics with award-winning artificial intelligence (AI). That’s how it powers secure and inclusive relationships between businesses and their customers without compromising experience, conversion, or security.
Recognized as a global leader in AI for identity verification and authentication, Onfido is backed by TPG Growth, Idinvest Partners, Crane Venture Partners, Salesforce Ventures, M12 (Microsoft) and others. In 2021 they were awarded ‘Artificial Intelligence and Machine Learning Hot Company’ by CyberDefense Global Infosec Awards, ‘Fraud Prevention Innovation of the Year’ at the CyberSecurity Breakthrough Awards, and named to the CB Insights Fintech 250 for the fourth year running. They partner with over 800 businesses globally to help millions access services every week – from billion dollar institutions to hypergrowth start-ups. Onfido supports checks in 195 countries, and 2,500+ document types.
About Tesco Bank
Tesco Bank’s goal is to make banking and insurance easier and better value for people who shop at Tesco. We’ve been around since 1997 and today we help more than 5 million customers manage their money every day. Over 3,800 colleagues serve our customers seven days a week from our three main centres in Edinburgh, Glasgow and Newcastle, and we are also available through online and mobile banking 24/7. Tesco Bank participates in the Chartered Banker Professional Standards Board.
Between its initial launch in March 2021 and the scale launch in January 2022 almost 45,000 Clubcard Pay+ accounts were opened by shoppers. Over £24 million was spent on 1.2m transactions using Clubcard Pay+ at Tesco and other retailers with customers picking up over 5.25m Clubcard points nationwide. Customers collectively saved over £213,000 into their Round Up savings accounts.
Clubcard Pay+ is available to Tesco Clubcard members who are resident in the UK and aged 18 or over. Accounts are subject to status. Minimum spend and exclusions apply when collecting Clubcard points and exclusions apply to Round Up.