Introduction
bank99 is an Austrian bank founded in April 2020 as a subsidiary of Österreichische Post AG (90 percent) and Schelhammer Capital Bank AG (10 percent). With around 350 employees and a customer base of almost 300,000 people, it combines innovation with a nationwide presence: a nationwide network of around 1,700 postal partners and post offices makes bank99 the bank with the largest, centrally managed sales network in Austria. As an omnichannel bank, it consistently pursues the goal of optimally combining digital and personal channels – always with a focus on a simple, customer-friendly service experience.
Challenges and Reasons for Implementing an Electronic Signature Solution and Onboarding
In the course of increasing digitalization, bank99 was faced with the challenge of modernizing and accelerating the entire application process, especially for products such as “rundumkredit99”. In addition to in-store support, customers should be able to conclude accounts, loans and other products online as easily as possible – ideally around the clock, without visiting a branch and without human interaction.
At the same time, the processes must meet strict regulatory requirements. For example, legitimation in accordance with the Austrian Financial Market Money Laundering Act (FM-GwG) and written form requirements in connection with banking transactions (e.g. exemption from banking secrecy).
In Austria, the qualified electronic signature (QES) can be used for this purpose – because it fulfils both the criterion of identity verification (IDV) in accordance with the requirements of the Financial Market Authority (FMA) and that of the legally effective electronic signature in accordance with eIDAS Regulation (EU) No. 910/2014).
Why bank99 needed a partner for trust services
Adopting a digital, fully online-based onboarding process required more than just technical solutions – it needed a qualified trust service provider (QTSP) that could meet regulatory requirements, offer innovative technologies, and integrate smoothly with existing banking systems and processes.
The goal was clear:
- Fast time-to-market for new digital products
- Maximum user-friendliness for customers
- Compliance with legal requirements, in particular eIDAS and FM-GwG
- Flexible identification methods – e.g. via ID Austria or biometric self-identification procedure
Why Namirial?
Namirial convinced bank99 with a comprehensive range of trust services, including:
- Qualified electronic signature with Namirial one-time certificate (“Disposable”) and A-Trust long-term certificates (formerly “mobile phone signature”)
- Flexible identification procedures: ID Austria, Namirial ID Self (automatic video-based identification procedure)
- Easy integration into the existing online application process
- High user-friendliness and fast scalability
A decisive advantage: The QES fulfilled two central requirements, namely legitimation and signature, in one step. As a result, bank99 was able to process its product applications (e.g. consumer loans) completely digitally while remaining compliant with the law.
After successfully implementing Namirial’s QES solution, bank99 was able to significantly reduce onboarding processing times, increase customer satisfaction through seamless processes, conserve personnel capacities and create the basis for further digital products.
bank99 is currently successively expanding the solution to other areas of application – specifically for digital account openings, credit card applications or securities custody accounts.
