Customer onboarding must be seamless, effective and satisfactory for customers. Still, these objectives often run into the other major goal of customer onboarding: weeding out potential bad actors that wish to defraud the company or its customers. Identity fraud cost consumers more than $56...
Consumers have become dependent on digital interactions, and they are focusing more on privacy as a result. They want to feel secure and avoid processes that take too long when sharing their personal information, but their skepticism of technology can serve as a major stumbling block. One survey revealed that 82% of...
Although more businesses are using biometric verification to offer smoother and safer user experiences, customers are still wary to trust this tech with sensitive personal details. In the Digital Identity Tracker, the International Biometrics + Identity Association’s Robert Tappan explains why businesses must emphasize transparency...
Consumers continue to use digital tools to safely and conveniently interact and transact during the pandemic — but when it comes to trust, many are concerned about how companies are handling their data. A fair share is even concerned that most companies they interact with...
Customer retention is crucial for businesses of all types, even for those that are rapidly expanding and gaining new customers daily. There is a remarkably simple calculus behind this need: Acquiring a new customer is often five times more expensive than maintaining an existing relationship. Improving customer retention by just 5% can increase...
Immigrants working abroad want receivers to get their funds instantly, at the same time, remittance platforms need compliant systems to keep those transfers secure. In the Monetizing Digital Intent Tracker, Remitly CEO Matt Oppenheimer explains how authentication using behavioral analytics reduces fraud at the same...
Almost half (43%) of businesses plan to invest in digital authentication solutions this year, and two-thirds (66%) of organizations say upgrading their digital identification processes will help them to get more customers. Two-thirds of those surveyed also say improving their digital security through financial investment...
Onboarding sets the stage for the rest of the customer experience, regardless of industry — one recent report found nearly two-thirds of consumers think about the onboarding process before making a purchase, for example. The study also found 74% of individuals surveyed are likely to...
Being able to identify your customers accurately and quickly is no longer something cryptocurrency companies can afford to ignore. Increasingly, having a strong know your customer (KYC) and anti-money laundering (AML) process “is table stakes to be in the industry, and to be a reputable...
