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.
Swiss Financial Market Supervisory Authority (FINMA) 2025-12-16
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.