Onboarding customers and easing checkout processes are key issues for eCommerce companies. Not getting this right can cost online merchants as much as $4 trillion due to cart abandonment. Requiring too much information at checkout is one of the biggest reasons why consumers lose interest...
Remote onboarding has overtaken (some might say overwhelmed) banks and merchants all year long as a deluge of faceless applicants opened accounts and cards. Financial institutions (FIs) and other issuers need more assurance than they’ve been getting, however, as cyber scams founded on false identities...
Many banks, utility companies and government agencies have been leveraging two-factor authentication (2FA) for several years. This process requires consumers to provide not only their usernames and passwords to access services, but also an additional form of verification such as a biometric identifier or a...
SMS-based communication is a valuable tool for everything from onboarding verification to customer outreach, but one that just 39 percent of merchants use today. Sam Shames, co-founder and chief operating officer of wearable technology startup Embr Labs, explains the value of using SMS services to...
Businesses and financial institutions (FIs) are constantly examining ways to make their customers’ accounts more secure, especially as more consumers go online to make purchases and transact during the ongoing COVID-19 pandemic. This is leading many to utilize two-factor authentication (2FA) methods to safeguard customers’...
Startling new technologies from mobile to cloud are revolutionizing identity verification during the mass migration to digital everything. That’s great, but it’s not always the ideal solution. Sometimes, mature and proven ways beat new and shiny. Email is an ideal example of this. “The role...
Fraudsters are possibly the only ones relishing the changes wrought by the ongoing pandemic. The reverberating economic uncertainty and drastic shifts the pandemic has brought upon most industries have handed cybercriminals unique and multiplying opportunities to enact new and improved schemes. One study on six...
Today’s online consumers don’t expect to have to choose between speed and security. In the latest Digital Consumer Onboarding Tracker, Ryan Wuerch, CEO and founder of cash-back platform Dosh explains how pairing familiar authentication tools, such as email and text-based verification, can help retailers keep...
Higher volumes of consumers are continuing to shop online even as brick-and-mortar stores reopen. Businesses and financial institutions (FIs) are following suit, reordering their products and services for a new digital normal — but unfortunately, fraudsters are tagging along. The expansion of digital banking and payments...
