1 / 1

User Identity Verification Needed or Not

<br>As human life gets more entangled on the internet, verifying the checkpoints becomes more imperative. Data breaches and identity thefts make identity verification even more popular among businesses. The only challenge is to verify the identity of a user through a streamlined process so that the user conversion rate doesnu2019t take a hit.<br>

fonada
Download Presentation

User Identity Verification Needed or Not

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. User Identity Verification: Needed or Not? As human life gets more entangled on the internet, verifying the checkpoints becomes more imperative. Data breaches and identity thefts make identity verification even more popular among businesses. The only challenge is to verify the identity of a user through a streamlined process so that the user conversion rate doesn’t take a hit. Here are some of the many ways in which streamlined identity verification can benefit a business: 1. Improves customer experience and conversion rates Having user-experience as a centric is imperative for business now more than ever. A great user experience strives to reduce any barriers that consumers might have while simplifying processes. A good identity verification API will verify a customer’s identity within seconds. Having a streamlined, almost-instant process like this in place can drastically increase conversion rates. In the context of identity verification, with simpler processes more users are likely to complete them. 2. Steers Fraud and Money Laundering Concerns Off Tainted money is a recipe for trouble and a hit on brand image. It is crucial that businesses are compliant with AML and KYC requirements or they risk heavy fines and damaging their reputation. Nothing attracts more bad publicity than an accusation of money laundering. As a result, organizations are leaning more and more towards using risk-based models that incorporate document verification to assess which users might be high risk. 3. Increases credibility among customers Trust is the foundation of any relationship, particularly in a digital landscape that’s inherently fickle. Verification of identity creates a better user-experience for businesses. This will make the customers feel safe to use their website leading to an improved customer loyalty. Wrapping up, having a swift identity verification process prevents businesses from having a tingy brand image. Apart from this, it also boosts user-experience and conversion rate marginally.

More Related