Customer onboarding is not a one-step process. In fact, it has consequences throughout the customer journey, affecting user perception of your company and your brand.
It is clear why the right onboarding process is so important from the outset. You must ensure you know who is entering your platform to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. You must keep fraudsters and other criminals at bay to ensure you remain on the right side of the law and to protect your organisation financially and protect brand value.
However, you must also keep the customer in mind. A lengthy, onerous process, perhaps involving a manual ID check, could drive potential clients into the arms of your competitors.
If you get it right, on the other hand, new customers will start off on the right track, viewing your platform in a positive light, with all that means for brand value in the years to come.
So what is the ideal customer onboarding checklist?
Through embracing technology like biometric authentication and AI, Veriff’s automated process offers safety and security, without creating stumbling blocks for customers. We help you welcome customers into your platform in a quick, safe and convenient way, building brand loyalty in that crucial early phase.
Customer onboarding is a tricky balancing act: you must ensure security for your brand and its clients, while avoiding a long and complex process. But get it right and you will boost your reputation while helping to attract and retain customers.
Customer onboarding cannot be thought about as just getting new customers through the door. Companies must also look to the post-onboarding experience, maintaining an environment where customers – and your business – are secure.