Identity Verification: Nexus to Digital Transformation of Financial Institutions

Say yes to Good Customers • Keep Fraudsters Out • Meet Regulatory Requirements

New-account acquisition is an increasingly challenging proposition for financial institutions (FI) as consumers are migrating their activity to the digital channel. Regulators are intensely scrutinizing new-account risk assessment practices. Fraud is on the rise, fueled by reams of personal data compromised in data breaches. Mobile Verify is the tool to combat these challenges.

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Convenience of Digital is an Undeniable Lure

Banking Identity Verification - Digital Channel

Accounts opened using digital channels (by type of account)

Benefits of Digital Identity Verification

Banking Identity Verification - More Customers

Acquire more customers at a lower cost

Banking Identity Verification - Digital Experience

Offer better, safer digital experience than competitors

Banking Identity Verification - Customers Growth

Identity customers in growth markets: young, immigrants, underbanked

Banking Identity Verification - CIP Regulations

Meet Customer Identification Program (CIP) regulations

Banking Identity Verification - Mitigate Risk

Mitigate risk of fraud

Download report by Julie Conroy, research director for Aite Group’s Retail Banking practice, Digital Identity Verification: Convenient and Compliant

Download Report Now

Instant ID Verification Clears Your Pended Queue

You know there are good customers in your pended queue. They may be Millennials, immigrants or others with a thin credit file who simply cannot be identified with traditional checks. Asking them to leave the mobile channel and take their identity document to a physical location or fax in a copy isn’t the answer. Those trying to validate identity this way are seeing abandonment rates as high as 90%.

Mobile Verify® is your key to getting good customers out of the pended queue, onboarded and generating lifetime value. 

Watch Pended Queue Video 

Banking Identity Verification - Id Verification

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Watch On Demand: Digitized Identity Verification - The Future of ID & KYC

To gain a competitive edge, remain compliant, and offer a frictionless and user experience, it is imperative for FIs to invest in technologies that bridge the compliance-convenience gap. Watch this on-demand webinar and get expert advice on how leveraging identity verification is helping financial institutions satisfy consumers’ demands for speed and ease of use to prevent them from going to the competition.