Best practices for preventing fraud and improving onboarding:

American Banker, HSBC, KOHO, and Onfido

Customer onboarding fraud is a significant challenge for financial service institutions looking to offer secure and seamless digital banking experiences. During the onboarding process, it's crucial to strike a balance between a fast, secure experience and the rigorous demands of fraud prevention. This is the moment where you set the tone for customer trust and loyalty, making it imperative to implement effective fraud prevention measures.

Our recent web seminar, featuring industry leaders Ahron Geminder (Global Head of Product at HSBC), Michael Fox (Vice President at KOHO Financial), and Katia Mar (Vice President, Product Marketing at Onfido), delves deep into the intricacies of customer onboarding fraud. These experts share their insights on creating exceptional customer experiences that prioritize security and compliance.

Key points of discussion include:

  • Strategies to mitigate customer onboarding fraud: Implementing robust fraud prevention measures that don't compromise the onboarding experience.
  • Compliance synergies: How meeting KYC and AML requirements can serve as a foundation for preventing customer onboarding fraud.
  • Technological innovations: The role of future technologies, like digital IDs, in enhancing security and compliance while minimizing friction during customer onboarding.

Preventing customer onboarding fraud doesn't mean you have to sacrifice the customer experience. It’s about finding the right balance between security and convenience. By adhering to compliance standards and utilizing advanced technology, financial institutions can protect themselves and their customers from fraud during the onboarding process.

Register and watch our web seminar today to learn how to navigate the complexities of onboarding, helping you open access to digital banking.