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As regulatory oversight to stop financial fraud rises, friction from identity and credit checks during customer onboarding  is resulting in abandoned shopping carts.

Consumers expect

  • simple, fast, convenient onboarding.

Reducing fraud and friction in consumer experiences

As regulatory oversight to stop financial fraud rises, friction from identity and credit checks during customer onboarding  is resulting in abandoned shopping carts. Consumers expect simple, fast, convenient onboarding.

The situation is forcing business-to-consumer (B2C) companies to rethink their customer journeys. Companies need  protections that yield fast, accurate, low-friction and invisible checks. At the same time, consumers want to know their identities and transactions are secure.

Additionally, businesses have implemented “guest check-out” facilities which  reduce friction completely at the expense of not knowing who the end consumer is and introducing a higher potential for returns fraud.

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