Onboarding has always been important, but amid COVID-19-induced chaos its criticality has become absolute, as hundreds of millions of people and businesses request trillions of dollars in financial assistance from federal and state sources. Meanwhile, the fraud opportunities created by current conditions are potentially staggering....
Onboarding is typically the first interaction customers have with financial institutions (FIs), which leaves a lot riding on the process. Banks are jostling for space in the market because an expanding number of FinTechs and large-scale technology companies are competing for the same set of...
With 48 percent of the money pocketed by fraudsters coming from funds stolen from day-old accounts, secure customer onboarding is more critical than ever. In the new Digital Consumer Onboarding Tracker, Patrick Sells, Chief Innovation Officer of Quontic Bank, discusses why cross-referencing information from large...
Financial institutions (FIs) are familiar with the challenges of pairing customer satisfaction with security, a balancing act that becomes crucial when onboarding customers. Maintaining digital onboarding experiences that allow customers to access their accounts with ease is essential for competing banks, but to do so,...
Innovation has become such a buzzword that it can be applied to countless solutions and initiatives, from emerging 5G mobile technology and the rise of “smart factories” to using blockchain to trace and track food supply chains to deploying kiosks to personalizing the ordering experience....
Supplier onboarding has its own set of challenges (and opportunities) as supply chains get longer and need more documentation. Julien Nadaud, senior vice president of innovation at Corcentric, tells PYMNTS that making the switch from manual processes to digitized, automated functions saves money and time...
Online gaming and gambling platforms provide engaging and enticing experiences for users, but their efforts are shattered if clunky onboarding practices stand in the way. This means they must ensure the entire process is simple, smooth and speedy to maintain customers’ interest. According to a...
The $7.2 billion fantasy sports market has fraudsters doing more than fantasizing about big payouts. Jennifer Aguiar, DraftKing’s VP of compliance and risk, says online betting platforms must keep onboarding frictionless for legit players, while making it harder for bad actors to play. In this...
An increasing number of customers want to onboard with retailers and banks through their mobile phones, putting greater pressure on businesses to provide robust, digital know your customer (KYC) checks and other security measures. However, these companies must keep their onboarding processes swift and intuitive,...
