Cryptocurrency Is Becoming Increasingly Popular In The World: Paving The Way For A Better Future
In the last ten years, the popularity of cryptocurrency has experienced an impressive surge, resulting in a wide variety of digital currencies and trading platforms. However, achieving global adoption for cryptocurrency remains a challenging task.
A major obstacle in gaining consumer trust for cryptocurrency is the absence of a central regulatory authority in the market. This lack of oversight creates hesitancy among investors to share their Personally Identifiable Information (PII) or invest in the system.
To overcome the trust barrier, cryptocurrency needs to prioritize the security of investments and PII. This can be achieved by implementing robust security standards and measures that effectively deter fraud and hacking attempts. By doing so, confidence in the system can be built for both users and regulatory entities.
Cryptocurrency faces skepticism and scrutiny, which hinder its widespread adoption on a global scale unless specific requirements are met. However, successfully addressing these concerns has the potential to revolutionize financial transactions and money management, paving the way for a more decentralized and accessible financial system that benefits everyone.
Nonetheless, if these problems can be effectively resolved, the industry has the power to transform the way we conduct transactions and manage our finances, creating an inclusive and decentralized financial system that is accessible to all.
Multilayered fraud protection keeps you protected and increases trust in your service.
Establish an effortless process for onboarding applicants from around the world.
Our in-house legal experts can help you keep up with changing regulations and enter new markets.
Enhance customer retention while streamlining the onboarding process
While it is true that efficient onboarding processes can bring about time and cost savings for businesses, it is crucial to prioritize customer retention above all else. In order to achieve this, adopting a customer-centric onboarding approach that gives prominence to customer needs and regulatory obligations is vital. Digital tools such as electronic signatures and automated workflows play a significant role in minimizing processing durations and eliminating the need for manual paperwork. To effectively manage customer expectations and ensure they are well-informed, it is imperative to maintain clear communication throughout the entire process. Striking a balance between streamlined onboarding procedures and customer retention enables businesses to enhance customer satisfaction and loyalty, leading to repeated transactions and positive word-of-mouth recommendations.
Businesses can increase customer retention by offering instantaneous onboarding
- By leveraging a partnered cryptocurrency network that has already verified the applicant, the verification process can be bypassed.
- In this case, only a quick liveness check is required, eliminating the need for applicants to undergo the entire Know Your Customer (KYC) process once again.
- As a result, both applicants and verification teams can save valuable time, and the onboarding process can be accelerated.
The Registration Process Is simplified To Simplify The Onboarding Experience
The customer sign-up process serves as the first step in customer onboarding. If this process becomes burdensome and time-consuming, it can result in reduced customer engagement and higher rates of abandonment, ultimately leading to financial losses.
Step 1: Looking to streamline your customer onboarding process? Consider reducing the number of forms, fields, and identification requirements. In France, the KYC (Know Your Customer) process can simplify the verification of a customer's name and address, making the overall process more straightforward.
Step 2: In certain cases, verifying a customer's identity may require more than just their name, address, or government ID. To ensure accuracy, additional information such as date of birth, last four digits or full social security number, or telephone number may be requested. By utilizing these supplementary data points, we can achieve a success rate of 70-99% in customer validation.
We have developed a verification solution that simplifies the onboarding process for your customers by adopting a structured approach to collect their Personally Identifiable Information (PII). By incorporating one or more additional data points, we can verify your customers with an accuracy rate of 70-99%. With our solution, most customers will only need to provide one or two pieces of PII to successfully complete the identity verification process.