Business processes have become so digitized in recent years that many of them take place almost exclusively online. Times of upheaval, such as the Corona crisis, are also accelerating digitization. As a result, customers now also prefer to carry out sensitive processes such as opening a bank account or taking out insurance online. The biggest hurdle here is that the user has to legitimize himself for this. This is because the digital process is too often interrupted by an offline measure. For example, the customer has to come to the branch to sign to confirm the account opening and identify himself on site with an ID card. That doesn’t have to be the case. With these success factors, proof of identity for companies will be a click away in the future:
1. Process immediately online
It’s a matter of course to give customers the option of taking out insurance on the Internet or making transfers via online banking. But why do customers have to re-identify themselves every time they want to use services? This hurdle of having to re-register and re-identify everywhere is the main reason for customers to abandon the onboarding process. Moreover, each company uses its own solution for this purpose, which further promotes conversion breakage. Companies should therefore focus on solutions where customers can save their verified identity data once and reuse it everywhere with other providers – this way, both customers and companies benefit.
2. Always smart and self-determined
Customers who are increasingly taking out and managing insurance policies or bank accounts online also want to do this directly and conveniently using their smartphone. This must be reflected in the digital application process and customer identification. Of course, it is essential that users retain data sovereignty and approve data transactions themselves. Access to data should be secured by means of two-factor authentication.
3. Secure and MLA-compliant
Customers naturally don’t want to sacrifice security in addition to convenience, even if they don’t actively care about it. They take security for granted. It is therefore important for companies to rely on trustworthy identity providers. This not only brings trust on the part of customers, but also security for companies: MLA (in German: GWG) and data protection compliance are ensured. This allows companies to concentrate on their core business without having to invest in the latest regulations and methods.
4. Flexible and fast onboarding
The VideoIdent process breaks down or the customer puts off visiting the post office to identify himself there? Companies that rely only on an offline identification method risk customers not completing it fully.
For successful completion, therefore, companies benefit if they can obtain all the legitimization methods for verifying their customers’ identity data via one interface – always appropriate for the level of trust currently required.
Identity verification of the future
Verimi simplifies identity proofing for customers within onboarding processes. Instead of confronting users with different legitimation processes in each branch, Verimi offers them the possibility to store their identity data once in their Verimi account and to always quickly prove their identity online in the future – even at a high regulatory level. Verimi makes the identity data seamlessly available to partner companies. This not only gets users to their destination faster – conversion rates increase and businesses save the cost of identifying users themselves.
Users can reuse their identity data again and again to identify themselves directly to many more companies in real time. With just a few clicks, instead of long waiting times. Across the board for banking, insurance, mobility providers and eGovernment.
Questions? Get in touch with us: partner@verimi.com
