Building A Global Platform For Cryptocurrency Acceptance
Over the past decade, the cryptocurrency market has witnessed remarkable growth, boasting a vast array of over 1800 digital currencies and a multitude of trading exchanges. However, the road to achieving global acceptance of cryptocurrency remains a formidable challenge.
A significant obstacle that hampers the widespread adoption of cryptocurrency is the lack of trust among consumers. This lack of trust stems from the absence of a central regulatory authority, which instills hesitation in users when it comes to sharing their Personally Identifiable Information (PII) or investing in the system.
To tackle the issue of trust in cryptocurrency, it is of utmost importance to prioritize the security of investments and PII. The industry must embrace enhanced security standards and implement robust measures that effectively combat fraud and hacking attempts. By doing so, users' trust can be fostered, and regulatory entities can gain confidence in the system.
It is crucial for cryptocurrency to meet these demands in order to overcome skepticism and scrutiny, enabling its widespread adoption on a global scale. Successfully addressing these challenges holds the promise of revolutionizing our financial management and transactional systems, ultimately creating a more decentralized and accessible financial ecosystem for individuals worldwide.
Steer clear of fraud
With multilayered fraud protection, your service can operate safely and gain increased trust.
Set up an effortless onboarding process for all types of applicants.
Ensure compliance with evolving regulations and enter new markets with legal expertise in-house.
Improve the onboarding process without losing customers
While it is true that efficient onboarding procedures can be advantageous for businesses in terms of time and cost savings, it is crucial for them to prioritize customer retention above all else. In order to achieve this objective, businesses should adopt a customer-centric approach to onboarding that places a strong emphasis on meeting customer needs and complying with regulatory requirements. Leveraging digital tools such as electronic signatures and automated workflows can significantly reduce processing times and minimize manual paperwork. Furthermore, maintaining clear and open communication with customers throughout the entire onboarding journey is essential for setting expectations and keeping them well-informed. By striking a balance between streamlined onboarding processes and customer retention strategies, businesses can enhance customer satisfaction, foster loyalty, and generate positive word-of-mouth referrals.
Enhance customer retention rates by implementing an instant onboarding solution
- Applicants who have already undergone verification with a partnered cryptocurrency network can bypass the verification process and skip ahead in the queue.
- A simple and swift liveness check is all that is required, sparing applicants from the inconvenience of going through the entire Know Your Customer (KYC) process once again.
- By saving time for both applicants and verification teams, this feature optimizes the onboarding process, making it more efficient and seamless.
This Feature Simplifies The Onboarding Process, Making It Easier And Faster
A lengthy and cumbersome registration procedure can have a negative impact on customer engagement, leading to higher rates of abandonment during the onboarding process and potential revenue losses.
Step 1: If you're aiming to enhance your customer onboarding process, it is advisable to simplify it by reducing the number of forms, fields, and identification requirements. In the UAE, KYC (Know Your Customer) regulations allow verification based on either the customer's name and address or a single government-issued ID.
Step 2: Verifying a customer's identity may sometimes require more than just their name, address, or government ID. Additional information such as their date of birth, last four digits or full social security number, or telephone number may be necessary. By incorporating these supplementary data points, we can achieve an accuracy rate for identity verification ranging from 70% to 99%.