Painless Digital Onboarding

Digitally onboarding new customers brings a variety of benefits, but, unfortunately, the process of digital identity verification isn’t always as seamless as it could be. 

In our new eBook, we’re highlighting some of the best ways to eliminate common pain points and make your digital customer acquisition process friction-free. To keep things organized, we’ve grouped them into the following five categories:

 

1. Improve Customer Service

While capturing in-depth information during onboarding can be essential for regulatory compliance, from the customer’s perspective, it’s merely a tedious hurdle to overcome before using the services they’ve selected. The faster your customers are onboarded, the faster they can use your services and the faster you can generate revenue.

In addition, choosing a SaaS deployment for your digital onboarding solution allows you to get improved customer services up and running fast. A new tenant can be stood up in a single day, with only a few additional days needed to incorporate your unique rules and processes. SaaS empowers you to register, configure, and launch without the time and expense of a big professional services engagement.

 

2. Reduce Friction & Deliver a Seamless Experience

The fewer touchpoints required for a new customer to get onboarded, the better. Therefore, your digital identity verification process should be streamlined and welcoming to new customers, rather than acting as a huge barrier to entry.

For example, eliminating knowledge-based authentication (KBA) can increase security while simultaneously improving the user experience. Passwords and secret questions are vulnerable to a variety of attacks, as well as causing a frustrating user experience. Are my answers case-sensitive? I can’t remember if I wrote, “High St” or “High Street,” so will my response fail if I recall incorrectly? And, that’s not to mention those social media quizzes that claim to be all for fun, while harvesting such information.

 

3. Reduce Costs & Save Time

In addition to reducing pain for your customers, there’s great potential to reduce pain for your organization as well with the right IDV solution.

Many onboarding processes require a manual review of documents by an administrator. Such a process, like all manual processes, is not only time-consuming, but prone to errors and impossible to scale as your business grows.

Automating document verification reduces the burden on back-office teams and allows for a high number of transactions to be processed simultaneously. Streamlining processes for increased efficiency saves time and makes your processes more scalable, supporting your organization’s growth. A solution that readily supports thousands of document types from hundreds of countries will further support your expansion.

 

4. Reduce Risks and Fraud

Biometrics are powerful authentication factors, but to effectively stop fraud, they must be able to differentiate between a photograph or video recording and a live human being. “Liveness detection” is the technology that makes this happen, and it varies widely in quality. Make sure your biometrics provider has certified, state-of-the-art liveness with modern machine learning algorithms that are constantly evolving.

You can further reduce your risk by integrating with third-party sources to check external databases and watchlists of known fraudsters. Ask if your digital onboarding solution has plug-and-play integration with leading identity check providers like Experian and Ekata.

 

5. Reinforce your Brand

Digital identity verification and onboarding is the beginning of your customers’ relationship with your business. As such, it should reinforce your brand, not your onboarding vendor’s. Choose a service that enables you to display your logo and easily change color schemes to achieve a cohesive look and feel. Any SMS messages customers receive should be appropriately labeled as coming from your organization.

Additionally, a flexible user experience enables you to promote your brand throughout the complete process, including on loading screens, or by providing helpful tips for customers or promoting additional offerings.

 

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Ready to learn more? Click here to get our full, free ebook on Digital Customer Acquisition.

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