Trading and brokerage platforms must earn their customers’ trust or risk losing business to their competitors. Identity verification (IDV) tools are a key tool to increase security and satisfaction among your user base, building strong foundations for future growth for your firm and the wider sector.
In this industry, firms deal with customers’ money every day – often at a large scale. Those customers must be confident that they’re safe from fraudsters and criminals of every stripe. As firms in trading and brokerages move into an uncertain future, you must combine safety with the highest levels of customer satisfaction.
So how can Veriff’s hybrid AI-based tools help build and enhance user trust, while helping to position trading and brokerages firms for a bright future?
Trust and security: Robust IDV not only ensures compliance; it builds customer satisfaction. If you fall victim to fraudsters, money launderers and other types of criminals, honest customers will be dissuaded from trading through your platform or firm, with all that means for your business going forward.
Quick onboarding: No-one wants to deal with a lengthy, cumbersome process, perhaps one that relies on manual verification. With Veriff’s IDV solutions, customers simply upload their government-issued ID, take a selfie, and move on within seconds.
A simple process: Onboarding is an essential component of joining any trading and brokerage platform, and most customers will be happy to spend a little time uploading the requisite information and data. However, they’ll walk away if the process is too tricky. Veriff guides customers through onboarding with real-time feedback, such as our Assisted Image Capture (AIC) tool.
Flexibility: Customers want access to their trading and brokerage tools and other platforms in whatever way suits their lifestyles and business needs. This could include mobile apps and other devices. Veriff’s secure IDV tools are designed to be easily deployed on iOS, Android, a range of Software Development Kits (SDKs) and more, building usability both for developers and customers.
Choosing the right IDV is vital on different levels, business, legal, and reputational, all of which add up to satisfied customers. At Veriff, we combine security and convenience, with a database of more than 11,3000 document specimens from around the globe, supporting IDV in more than 230 countries and territories. Checks can be conducted securely and quickly, at an average speed of six seconds.
At a time of rising interest rates, evolving technologies and geopolitical upheaval, the future for trading and brokerages is uncertain. However, this environment presents multiple opportunities. By combining security with convenience, your customers – and your business – can seize the advantage.
A recent spike in criminal activity suggests marketplaces are headed for a new era of industrialized fraud in which organized crime gangs mass-produce fake identities and launch attacks on an epic scale.
Discover new research into how bad actors are targeting Buy Now Pay later (BNPL) operators, plus how operators can scale by using an effective identity verification solution.
The secondary market for upscale cycles has long provided fertile hunting ground for criminals. Veriff’s partnership with TPC, however, is showing how a market-leading identity verification solution can stop thieves and fraudsters in their tracks