Identity Verification in a World Where ‘Amazon Experiences’ Reign Supreme
How do you navigate identity verification requirements in an age of Amazon-style experiences—convenient, quick, and consumer-focused? Cameron D’Ambrosi, host of the State of Identity podcast from One World Identity recently sat down with Aaron Kline, vice president of product management at ID Analytics, to discuss the topic.
New customer acquisition can be expensive. Large financial institutions can spend $1,500-$2,000 to acquire a retail banking customer and as much as $800 for a new credit card customer.¹ That means enterprises don’t want to lose prospects because they abandon an account opening process that is overly complicated or cumbersome due to identity verification requirements.
With identity fraud at an all-time high,² how can enterprises offer consumers the low-friction customer experience, convenience and speed they’ve become accustomed to, without introducing additional risk during the onboarding process? Tune in to hear how to reduce conversion killers—the friction consumers don’t have patience for—while maintaining an environment that helps protect against synthetic fraud and other risks.
This State of Identity podcast highlights:
- Advances ID Analytics is making in creating exceptional, lower-risk customer experiences
- The importance of using an authentication method that examines both the consumer’s identity and a government-issued ID
- Best practices in identity verification that organizations can implement today
Want to learn more about digital authentication processes that help to manage risk while simultaneously delivering a great user experience? Listen to “Talking IDV With ID Analytics.”
1. Tearsheet, http://www.tearsheet.co/data/why-customer-acquisition-is-so-difficult-for-financial-startups (accessed May 4, 2018).
2. Identity Theft Resource Center, https://www.idtheftcenter.org/2017-data-breaches (accessed May 4, 2018).