Javelin’s new whitepaper explores the challenge of identity verification in the digital account opening process, and how financial institutions are eager to adopt alternative methods such as ID document scanning to improve the status quo.
Javelin’s research outlines how many of the solutions available today for safe identity verification often sacrifice the applicant’s digital customer experience.
The report analyzes in further detail why today's Knowledge Based Authentication (KBA) driven processes aren't friendly to Millennials and other key growth segments. According to Javelin's research, KBA doesn't work for customers with thin credit files, such as immigrants or Millennials, who may be forced to visit the branch to authenticate but often choose instead to simply abandon the account opening process.
Download Javelin's new white paper and get all the information you need to make an informed decision as you look for smarter ways to integrate identity verification as a key part of your digital transformation.
Millennials don’t want KBA to get in their way – mobile identity verification rises in popularity
Some of the key topics covered in this white paper are:
· The way digital account opening is flourishing
· Mobile-obsessed Millennials want digital account opening but bureaus cannot verify them with KBA so they abandon and go elsewhere
· The fact that digital account opening is attractive to criminals, too, as it offers the same remote convenience given to legitimate customers, along with increased anonymity and scalability and how, consequently, security and convenience need to be resolved in tandem
Read 'Looking Beyond KBA: Solving the Fraud vs. Customer Experience Challenge in Digital Account Opening' and get the most recent intel on how to improve the digital account opening process to keep growing your top line.