Digital ID verification streamlines online Advantage Account* applications

Opening a new personal Advantage Account online is about to get faster and more convenient for clients who are brand new to Manulife Bank, as well as young professionals, newcomers to the country, and others with a thin credit file. With help from two technology partners (Flinks and ESC), we have a digital solution that satisfies know-your-customer regulations and streamlines the application experience for clients who would previously have had to provide additional documents to verify their identity.

When an applicant can successfully sign into their online account at another Canadian financial institution– a familiar experience in the digital age – that authentication will help Manulife Bank verify the applicant’s identity in real time. We’ve added a new screen to the online application to offer this feature.

Effective immediately, digital ID verification will be presented:

  • Whenever the applicant is unable to answer credit bureau questions
  • As a validation option to which the applicant must give consent
  • As an alternative to providing us with a personal cheque and/or document to verify identity, which takes significantly longer

It’s confidential as well as quick

Behind the scenes, Flinks will confirm for us that the applicant holds a valid account at the other Canadian financial institution and ESC will confirm that the account information matches other sources such as the credit file or telecommunications provider. Data is encrypted to ensure privacy and security. The applicant’s login credentials are not shared with Manulife Bank. And because it’s not a credit check, the applicant’s credit score is not affected.

Additional enhancements

We’ve taken this opportunity to enhance My Clients reporting. You will be able to identify recent accounts opened online by your clients, versus accounts opened using BankLink or a paper application.

Reminder: if your clients already have Manulife Bank accounts in good standing, they can sign into online banking and submit our shorter express application.

For more information, see our FAQ and Submitting an Advantage Account online application video module, Advantage Account, and online application pages. To request a custom online application URL, contact your dedicated Business Development Consultant.