The pandemic has accelerated the trend for service providers to move their product online or risk going out of business, making traditional ID methods of onboarding customers more challenging. But what does the future hold for a post-pandemic world? Will we see a return to paper documents, or will Digital ID become the new normal?
Know-Your-Customer (KYC) checks have long been associated with high levels of customer friction. Traditionally, these assessments were largely carried out by financial institutions, looking to conduct due diligence and safeguard against the legal consequences of financial crime. Creating a seamless customer journey was not a priority when designing legacy systems for identity proofing. Until recently,
Tuesday 12 January 2021 by Laura Camplisson
Despite decades of financial inclusion efforts, barriers preventing access to financial services continue to exist for individuals across the globe. One such critical barrier, is the lack of an official, foundational form of identification. An estimated one billion people worldwide are unable to prove their identity, while millions more have forms of ID that cannot