Leverage Digital Identity Verification, Facial Biometrics, and Machine Learning to Overcome Digital Account Opening Challenges
The process a customer goes through when opening a bank account can directly impact long-term customer loyalty, profitability, and retention.
Today’s customer expects a fully digital account opening experience – complete with digital identity verification. Consumers are familiar with biometric verification and expect to be able to open an account on their phone with the same ease and convenience as any other consumer service.
Despite this, remote identity verification remains one of the most challenging processes to digitize. This white paper highlights key trends, best practices, and technologies to overcome this challenge, including facial biometrics, e-signature, and machine learning-based fraud analytics.
• Digital identity verification trends
• Benefits of multi-layered identity verification to achieve optimal CX
• ID document verification and facial comparison
• How machine learning algorithms can help prevent fraud
• Security considerations to protect the account opening experience