Digital identity verification: building a strategy

The customer journey of money, or resetting an account. The higher levels

A key consideration when implementing identity verification of assurance businesses create at onboarding, means
is how to integrate it into the wider customer journey. a more streamlined, cost-effective approach to later
Traditionally, businesses often tacked an identity check moments of authentication.
onto the end of the sign-up flow and gave it little more
Risk management: Businesses should build risk
thought. However, this approach is only going to hold
management strategies around identity verification.
a business back long term. Here are some of the key
This can help identify high-risk events and automate
moments to consider in a customer journey.
responses based on data.
Onboarding: A critical part of identity verification –
by establishing customer verifications on day one,
businesses can build on this to re-verify customers
throughout the lifecycle. Onboarding is also the moment At each stage of the journey, ask yourself:
when a customer is most likely to jump ship and head
to a competitor if the process doesn’t meet their ➔ What information do I absolutely need from a customer?
expectations. So think about when in the sign-up flow
to add that verification step, as well as how to manage ➔ Is this the right moment to capture this information?
customer expectations.
➔ Am I optimising for fraud mitigation or a seamless UX?
High-risk moments: Businesses can use digital identity
to re-verify or authenticate customers at moments
➔ Can I use tools such as gamification to increase conversion?
of high risk — for example when transferring large sums

11 A guide to digital identity verification