Expectations of digital identity and onboarding
End-user research report
For regulated businesses, customer onboarding is a delicate balance of KYC checks and UX. While user expectations define what you should and shouldn’t do, compliance defines what you can and can’t do. So how do businesses strike the right balance?
To help, we asked 6,000 people how they feel about onboarding and digital identity processes. The result? An in-depth deep dive into onboarding dos and don’ts, according to end users.
Key findings
Users abandon account creation
Chose a document and biometric check
Users trust a business more
The current state of onboarding
Identity verification technology has come a long way in recent years to enable widespread digital access to all kinds of services. However, different countries have adopted digital identity verification processes at different paces. And local regulations reflect this. The result? End-user experiences can be wildly varied. While some onboarding processes set the gold standard, others fall behind.
Building for better onboarding
What users like and dislike about digital onboarding and identity verification processes.
In-store, no more?
We asked users: would you be satisfied with a fully digital service so you never had to visit a store/branch again? 8 in 10 responded they would be satisfied with digital-first. Businesses across different industries (that haven’t done so already) can confidently make the shift to digital, knowing that it meets their users’ expectations.
Sign-up struggles
Despite high levels of digital adoption from businesses and user satisfaction with digital-first, some sign-up processes still fall short. 1 in 5 users abandoned signing up for an account in the last year, due to reasons like it taking too long or being too confusing. In terms of potential business revenue, this amounts to a lot of missed opportunities.
Users opt for document and biometrics
Document and biometric verification is users’ top choice when it comes to their preferred method to verify their identity. 36% of end users would choose it over any other method of identity verification. Why? It meets their expectations across security (81% find it secure) and convenience (88% find it convenient).
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