How to Onboard 90% of New Customers 79% Faster

Mobile payments
Aug 09, 2023

According to a recent poll, over half of consumers would abandon signup of new services if identity verification is too slow. Unsurprisingly, many merchants have traditionally viewed identity verification processes as the enemy of new customer acquisition, causing friction and disrupting the customer experience. But today, many modern companies are challenging this perception and using specialized identity verification tools to not only mitigate account opening fraud but also drive new revenue. In this session, Steve Durney, VP of Payments & Merchant Strategy at Prove will share actionable insights on the steps that leading merchants are taking to flip the traditional model on its head and leverage modern identity verification tools to make the onboarding process up to 79% faster while also reducing account opening fraud by 75%.

Key Takeaways:

  • How leading companies are increasing their onboarding pass rates to over 90%, while also mitigating account opening fraud
  • Best practices on how merchants can implement advanced identity verification to decrease abandonment and enhance the customer experience
  • Top onboarding and identity verification mistakes that merchants can watch out for

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