Industry Insight: The future of identity is embedded
This industry insight report, powered by OCR Labs, will explore the future of embedded identity verification, fraud prevention and customer onboarding online.
The last 10 years has brought consistent growth in online retail. Why? Because shopping online is convenient. Efficient and secure online payments are key to this convenience, as the recent growth in embedded and one-click payments shows.
The majority of people who take goods to a shop till will buy them. In ecommerce the opposite applies. Research suggests as many as 80% of carts on mobile apps are abandoned. The more information required, the more likely a customer is to give up on a purchase.
But what if you need to complete online identity verification as part of the customer onboarding process? Online, it’s hard to know who – or what – you’re really dealing with. With identity fraud on the rise, prioritising transaction speed, at the expense of trust, can be a costly mistake to make.
How can financial institutions, ecommerce sites and entertainment sites make sure that they know who their customers are, without sacrificing that all important frictionless experience. Is embedded identity the answer?
Download the report now for insights from identity industry commentator, Dave Birch, neo-bank Dozens and credit card provider Jaja Finance.