The Swiss Financial Market Supervisory Authority (FINMA) has launched a consultation on a partial revision of Circular 2016/7 “Video and online identification”, updating supervisory expectations to reflect technological developments and, in particular, the forthcoming Swiss electronic identity credential (E-ID) framework. The revisions take account of developments linked to the Federal Act on Electronic Identity Credentials and Other Electronic Credentials, which is expected to enter into force in mid-2026 and would give the E-ID the status of an identity document. FINMA notes that the E-ID is intended to function like a digital identity card enabling digital identification between private individuals and authorities, and that financial intermediaries should be able to offer the E-ID as an option for Anti-Money Laundering Act-compliant digital onboarding. The consultation runs until 27 February 2026.
2025-12-16Swiss Financial Market Supervisory Authority (FINMA)
Swiss Financial Market Supervisory Authority launches consultation on updating rules for video and online identification to accommodate Switzerland’s electronic identity credential
The Swiss Financial Market Supervisory Authority (FINMA) has initiated a consultation to revise Circular 2016/7, updating supervisory expectations with technological advancements and the upcoming Swiss electronic identity credential (E-ID) framework. The revisions align with the Federal Act on Electronic Identity Credentials, granting the E-ID identity document status and enabling its use for Anti-Money Laundering Act-compliant digital onboarding.