Towards fully digital client onboarding and lifecycle management: the new CDB 27 and FINMA’s revised Circular 2016/7
Towards fully digital client onboarding and lifecycle management: the new…
<p class="MsoBodyText">Two developments advance digital client onboarding and lifecycle management in Switzerland.</p>
<p class="MsoBodyText">First, FINMA’s partially revised Circular 2016/7 ’Video and online identification’, in force since 1 November 2026, admits the forthcoming Swiss e-ID and QR-coded identity documents, while extending liveness detection and residence verification to further online identification routes. Second, the Swiss Bankers Association’s revised due diligence agreement (CDB 27), effective 1 January 2027, aligns its form and documentation requirements with digital processes in a technology-neutral manner, accepting now officially electronically transmitted beneficial ownership forms and digital copies.</p>
<p class="MsoBodyText">Together, they enable end-to-end digital processes – subject to stricter security standards and a requirement of verifiable attribution.</p>