Research published in January 2023 by The Financial Brand says[1] that one in four clients drop out of onboarding for banking, financial services or insurance (BFSI) services, citing the need to provide ID and ID authentication documents (26% of dropouts), too much manual entry (26%) and slow processes (25%) as reasons for dropout.
Read the new Q&A with Martin Zeisel, Principal Consultant, Payment and Identity at Netcetera, about the benefits of orchestrated authentication and why banks, financial services companies and insurers (BFSIs) need to adopt a new approach to authentication and identity management.
[1] The Financial Brand, January 2023: “Four Ways Banks Sabotage Onboarding”
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