Mia-FinTech, the technology provider for banks and financial institutions based on Mia-Platform technologies, has announced the launch of the Mia-FinTech Identification Manager. This new solution simplifies banks' onboarding processes and connects multiple identity providers.   

According to research, 68% of consumers abandon applications for new bank accounts or loans due to the complexity of the onboarding process. Furthermore, 75% of millennials indicated they are willing to change their banking institution for a better mobile experience.  

The adoption and use of digital identity technology has risen sharply in recent years. As a result, Mia-FinTech believes there is an increasing need for an integrated digital identity infrastructure to serve as a catalyst for financial inclusion and incorporates universal access to ID data for all financial institutions.   

Bruno Natoli, CEO of Mia-FinTech, said: “We’re seeing the large-scale adoption of digital ID services across Europe and the UK. Demand for the technology is growing, but the ways in which ID data is shared needs to improve. The financial services sector could be one of the biggest beneficiaries of Electronic Identification and Trust Services (eIDAS) regulations, but only if implemented correctly.  

“Not only would this create a wealth of new business opportunities, but it will also vastly improve cross-border digital services. Our Identification Manager aims to bridge the gap between banks and technology by offering financial institutions a reliable, quick and compliant way to verify a customer’s digital identity, no matter their location.” 

The Identification Manager is an end-to-end solution that allows users to create, manage and customise the identification process. The application simplifies integrating a digital identification system into existing digital infrastructures. It offers an improved customer experience and the seamless sharing of data, as well as increasing onboarding conversion rates and reducing operating costs.  

“This application speeds up the onboarding process to such an extent that it allows document capture and identity verification in minutes. Traditionally, onboarding new customers into digital systems or platforms involves several time-consuming online steps and interactions. However, thanks to Mia-FinTech’s Identification Manager, it will be possible for banks to create a fully customised digital onboarding process by selecting and composing the necessary steps”, said Natoli.  

The platform uses flexible architecture, enabling the integration of new microservices and the customisation of the identification flow. It supports multiple identity providers, offers single site management of all identification processes and a centralised user dashboard to monitor the status of ID checks for each integrated provider.  

Mia-FinTech is based on Mia-Platform's innovative technology and facilitates developers, platform engineers and CIOs in developing and operating modern applications on Kubernetes. The platform enables customers to cover the full lifecycle of cloud-native applications through continuous integration and continuous deployment (CICD), microservices development, API management, centralised internal developer portal and total Kubernetes management from all providers.  

Identification Manager is available through the Mia-Platform Marketplace.