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INTELLIGENT VERTICAL: BANKING & FINANCE
CONFIDENCE 2.0:
AUTHENTICATION IN
THE NOW ECONOMY
Finding the correct approach that appeals to a wide
audience in this digital age is a challenge for enterprises
and particularly for the banking sector. We spoke to
Rupert Spiegelberg, CEO, IDnow, who informs banking
enterprises how they can adapt their services to appeal
to every demographic in the market.
I
n a world where data breaches are so
commonplace they barely make the
news, persuading a customer to share
their personal and financial details online
requires two important things: trust in the
institution and a positive user experience.
Fail on either of these levels and the
customer will likely terminate any transaction
before signing on the dotted line.
This is particularly true for the financial sector
which experiences the highest number of failed
sign-ups – known as ‘leakage’ in the industry
– mainly due to stringent legal requirements
for identity verification which make for a long,
www.intelligentcio.com
drawn-out process for the customer. While
transactions within this sector have to remain
understandably watertight, they nevertheless
need to factor in convenience for the customer.
This, after all, is why they’ve chosen to sign-up
online in the first place, rather than visit a
traditional institution.
In the Now Economy of instant interaction
and gratification, buying, selling, booking,
renting, applying, publishing and account
opening are all possible while on the move,
or from the comfort of a customer’s home.
Banks who can win customers over with
their online offering and maintain their
“
CUSTOMERS
SEEKING TO
OPEN A BANK
ACCOUNT ONLINE
FIND THAT THEY
ARE REQUIRED
TO PROVIDE
CONSIDERABLY
MORE SENSITIVE
INFORMATION
THAN THEY
WOULD, SAY, WHEN
SHOPPING ONLINE.
INTELLIGENTCIO
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