30 Jun 2022

Elevate your Customer Experience with KYC-Chain

This monthly update takes a look at the importance of improving customer KYC verification experience:

The problem for businesses that are regulated and required by law to gather Know Your Customer (KYC) data on their users is difficult: how to maintain customer interaction, minimize dropout rates, and execute successful KYC in the face of never-ending user engagement demands?

KYC verification is always going to add a certain level of friction to a signup process: the question is, how to reduce that friction to the bare minimum, while also maintaining adequate protection against risk?

Fortunately, there are solutions that are informed by customer experience and they are based on cutting-edge technologies.

KYC Workflow Customization - A tailored KYC Workflow Builder is a helpful tool for handling customer verifications. This allows businesses to streamline the user experience by determining which checks they perform on customers based on their jurisdiction, risk profile, and desired services.

Liveness Detection - The new generation of ‘Passive Liveness' does not prompt consumers to follow awkward cues to move their faces in certain directions etc, so friction is significantly reduced when compared to the previous generation of 'Active Liveness.'

Risk-Based Approach - Treating each client differently is a key principle of creating a good customer experience. While it may appear to be an arduous or even impossible process, with the right technology, it may be streamlined and successful.

Elevate your Identity Experience

There are a number of variables that influence a consumer's IDV experience throughout the onboarding journey. As we've seen, any KYC onboarding procedure should include a dynamic and fast KYC process that only subjects consumers to relevant checks while also reducing friction as much as possible.

The solution should also be fully integrated with your website iframe and API in order to merge seamlessly with your business platform and provide customers with a unified experience on your website or app.

Are you looking for a way to optimize your customer verification and IDV experience that can merge seamlessly with your business model? Get in touch and we’ll be happy to tell you more about what KYC-Chain is capable of.

Any Questions?

Our team is always ready to help you and your business.
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