The Power of Progressive Authentication
In a digital world where businesses need to strike the right balance between maintaining a good user experience and seamless onboarding process while fighting fraud and being compliant, the need for progressive authentication is paramount. This strategy involves incrementally collecting information from users as needed, only requesting detailed information as necessary.
Such an approach creates a better customer experience, due to its streamlined approach to collecting user information, thus leading to less abandonment and quicker time to revenue.
It is also conducive to greater regulatory compliance. By collecting only the necessary information required for specific transactions or interactions, businesses can minimize the amount of sensitive data stored, reducing the risk of non-compliance with privacy laws. Additionally, progressive authentication allows users to control the information they share, enhancing transparency and accountability in data processing practices.
Learning Objectives:
- Learn how progressive authentication enhances customer data collection and insights in the KYC and KYB process
- Hear actionable insights drive revenues and improves CX
- How to detect and stop fraud in the client onboarding process
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