In 2016, an estimated 62.9% of the population worldwide already owned a mobile phone, and by 2020 the number of mobile phone users is forecast to reach 4.78 billion.
Online identity verification means that a business can remotely on-board a new customer, and by 2020 80% of all accounts will be opened online. This inexorable trend will continue, and Strong Customer Authentication (PSD2) means that banks and businesses will be required to adapt.
Make a Great First Impression
There is only one chance for a business to make a first impression, and because 49% of consumers now conduct their banking primarily on their desktop or smartphones there is an expectation to complete the on-boarding process digitally.
With ID-Pal the host business can brand the app with its own logo, making the digital on-boarding process fully integrated, with a seamless user experience.
Bring Inactive Users Back to Your Product
With ID-Pal push notifications customers are prompted to complete the on-boarding process. When a user has not completed a submission to the business in question they will receive a notification requesting that they finish the process. This message can be set by the business to send at a defined time period (in days) after the initial invite to download the app has been sent.
Business Benefits of Online Customer On-Boarding
Customer loyalty begins with a strong on-boarding process and results in greater customer satisfaction, improved retention, more referrals and increased sales. We have made customer service an absolute priority in the design of our App and ID-Pal can be installed in a day. Business integration is a key concept of our platform and the host business can adapt the App with its own colours and logo.
Organisations now have a GDPR requirement, and using a digital on-boarding solution has proven to be more efficient than a paper-based system when it comes to KYC business requirements.
Ultimately, our platform drives more user engagement and growth. Getting new customers for your business is hard work, what ID-Pal delivers is a seamless onboarding software which is simple, secure and convenient.
By 2020 80% of all accounts will be opened online. In a crowded marketplace, how do you choose which is the best option for your business? In the next blog we detail why ID-Pal is the best identity verification experience for on-boarding new customers.
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