Traditional identity verification methods can be as chilling as a haunted house, with several steps to accomplish the process and the constant threat of identity theft. Proving identity can feel like a quest through a labyrinth, and outdated digital methods often lead to a frighteningly high churn rate. Many of your potential customers will abandon the process if it's too complicated.  

But fear not, for there's a way to streamline identity verification: biometric digital identity verification. Let's explore how this method can simplify the process and keep your customers coming back for more.   

The consequences of cumbersome digital identity verification processes   

Onboarding new users is crucial for businesses, especially those operating in the digital scene. However, a cumbersome onboarding process can be a horror story, leading to high churn rates and fraud.     

Imagine a labyrinth. This is the experience many users face when navigating a complex onboarding process. Requiring users to complete endless forms, verify their identities through multiple steps, or jump through hoops to create an account can be frustrating and time-consuming.     

When faced with such processes, many users simply decide to abandon the process. This can have a significant negative impact on a business's bottom line. A high churn rate means businesses constantly lose potential customers and have to invest more resources in acquiring new ones.  

Another effect of cumbersome onboarding processes is the risk of fraud in digital identity verification. Fraudsters can exploit vulnerabilities in onboarding processes and use fake documents or stolen identities to create fraudulent accounts, leading to financial losses, reputational damage, and regulatory fines.  

Creating an onboarding experience that reduces churn  

To avoid the pitfalls of a clunky onboarding process and mitigate the risk of churn, businesses must focus on creating a seamless and user-friendly experience. This involves streamlining the onboarding process, simplifying form fields, and offering multiple verification options. Additionally, businesses should invest in robust identity verification technologies to prevent fraud.  

Biometric identity verification has made significant improvements in recent years and now offers a convenient and potentially more secure way to verify identity. This technology works by comparing a live image of a person's face to a reference image, such as a passport photo or driver's license. Algorithms then analyze vital facial features to determine if there is a match.  

The key advantages of biometric identity verification solutions are:  

• Convenience, offering a hands-free and intuitive way to verify identity, eliminating the onboarding bottlenecks.  
• Security, being a highly secure method of authentication, as it is difficult for someone to impersonate another person based solely on their appearance.  
• Efficiency, by automating many identity verification processes, reducing the need for manual labor and improving efficiency.    

Changing your onboarding processes with Youverse  

Biometric digital identity verification offers a promising solution to the challenges posed by traditional identity verification methods. By streamlining the onboarding process, enhancing security, and improving efficiency, biometric solutions can help businesses create a more positive and engaging customer experience.   

YouID offers a comprehensive identity verification solution that prioritizes security and efficiency. Its top-tier algorithm, compliant with ISO 30107-3, ensures reliable and accurate identity verification. By choosing Youverse and YouID, businesses can enhance their security posture, improve customer onboarding experiences, and mitigate the risks associated with identity fraud.  

Schedule a demo and see it for yourself.