Customers have come to expect consistent, seamless experiences from brands across all channels. How easy it is to register, how quickly payment can be made and how secure the service feels, can all have a significant impact on conversion and satisfaction rates.

A key challenge businesses face is understanding and tracking customer behaviour, across multiple brands, products, channels and locations. By linking this data to an identity, rather than allowing it to reside in siloes, businesses can provide a far more personalized product offering.

Bad actors deploy increasingly sophisticated tactics to target individuals and companies. Knowing that every customer is who they say they are, is imperative if businesses are to protect against monetary losses and reputational damage in an ever-changing threat landscape.

Manually verifying documents, managing password resets, and inputting customer data is time-consuming and resource heavy. Streamlining these processes will lead to efficiency gains, reduce the costs of human error and allow businesses to serve more customers at speed.

Amidst increasingly tight regulations, data protection is becoming a growing concern for both consumers and businesses. Securely storing large amounts of personal identity information is risky and expensive. Prioritizing privacy and consent management is key.

As the threats of online scams, trolling, grooming and misinformation intensify, the pressure is on for platforms to introduce identity and age verification solutions to enhance user safety, protect brand reputation and keep pace with potential new regulations.