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    Guide-To-Digital-Identity-Verification-Report 10

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    Роман Кунько

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    Guide-To-Digital-Identity-Verification-Report 10

    Uploaded by

    Роман Кунько
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    guide-to-digital-identity-verification-report 10

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    2 views1 page

    Guide-To-Digital-Identity-Verification-Report 10

    Uploaded by

    Роман Кунько

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Convert more customers at onboarding Identity verification solutions should offer businesses: customer profiles, and risk tolerance,

    mer profiles, and risk tolerance, while creating


    Converting more customers at onboarding is key minimal-to-no impact on genuine customers. Some
    ➔ A range of verifications so businesses can pick the
    to realizing the lifetime value of a customer. But customers might only require a database check with
    righttype of check for their specific goals
    conversion rates might be impacted by any number passive, background fraud signals. Other high-risk
    of factors. A poor user experience, outdated verification ➔ Optimized capture experiences including NFC, customers might need step-up verification in the form
    accessibility, and built-in analytics features
    methods, and clunky onboarding flows all contribute of document or biometric checks to filter out fraudsters.
    to customer frustration. And the higher your customers’
    ➔ Sophisticated AI that boosts automation and decisioning
    frustrations, the bigger your drop-off. Up to 43%
    of customers will abandon an onboarding experience Passive Signals
    if it doesn’t meet their expectations. An optimized flow will ultimately help businesses get more
    customers through the door, driving long-term growth and Document
    Regulated industries can’t run their businesses without Verification
    revenue improvement.
    verification, but outdated approaches to verification
    (for example if prospects have to gather documents Biometric
    and appear in person to verify their identities) can Prevent fraud and enable risk management Verification
    leave customers waiting up to days or even weeks. Research suggests that global losses due to fraud equate
    These outdated onboarding processes can also impact to roughly 6.4% of GDP, or $5.38 trillion5. Missed fraud
    expansion into new markets, or a business’s ability results in chargebacks and lost assets.
    to keep pace with sign-up spikes during busy periods.
    Traditional approaches to fraud prevention are often manual
    As a result, verification methods are moving away from and slow. They block resources and increase operational and A layered approach means businesses can leverage
    manual, high-friction approaches toward solutions support costs. This is why fraud prevention solutions are the right fraud detection method for individual cases
    that prioritize automation, user experience, and scalability. moving towards using a combination of active and passive based on risk scoring. Ultimately, decreasing the amount
    signals that combat a range of fraud vectors. Customizable of revenue lost to fraud, while giving genuine customers
    identity workflows allow businesses to configure experiences a faster onboarding experience and increasing customer
    to their own fraud definitions, based on geography, market, satisfaction and safety.

    10 A guide to digital identity verification

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