As a business owner, you want to avoid fake customers or any form of money laundering in your business transactions. Following the 2008 global financial crisis, business enterprises included safety practices like customer onboarding and Know-Your-Customer (or KYC) to prevent any financial fraud or identity theft.
How are these regulatory requirements expected to fare in the post-COVID era? Consider a few of these stats — E-commerce penetration has jumped 10 years ahead in just three months in 2020. The number of permanent remote workers is expected to double in the year 2021 following the COVID-19 pandemic.
With more customers choosing…
According to the latest statistics, 77% of mobile users discard a downloaded app just 72 hours after installing it, while one-in-four mobile apps is abandoned following its first launch. And this is not restricted to mobile apps: 55% of customers say they have returned a product simply because they did not know how to use it.
Will Egan, the Chief Marketing Officer at Ausmed reveals, “many companies are surprised when they discover that a majority of their customers have never used their products — not even once.”
Your trusted provider for seamless onboarding, identity verification, KYC and PSD2 solutions.