It’s Time To Refocus Customer Experience In The Era Of Risk

It’s Time To Refocus Customer Experience In The Era Of Risk

In this guest post, Andy Mellor, regional vice president, ANZ at Kofax, asks what does customer experience look like in this era of privacy and risk?

“You never get a second chance to make a first impression.” If only you had a dollar for every time you heard this saying, right?

When we talk about customer experience, it tends to be around how to nail the first impression or win customers over. A positive initial customer experience drives higher retention and gives companies a competitive advantage, but what’s often less talked about – and shouldn’t be – is the importance of a secure onboarding process.

With 72 per cent of Australian businesses saying the risk of fraud increased during the pandemic and 85 per cent expecting this to continue in 2021, fraud mitigation needs to be at the top of the agenda.

Herein lies the challenge: while customers want a fast and easy onboarding process, businesses must capture, validate, and continuously monitor customer identities – without increasing customer friction.

So, how can you balance the implementation of sophisticated fraud prevention measures while delivering an effective, seamless onboarding process?

The answer lies in the automation of business-critical workflows that support effective customer onboarding.

Leaning into digital identity processing

There are a range of technologies and tools available to help you create a frictionless onboarding process, as well as a solid defence against fraud.

Facial recognition technology is a perfect example of this. The process is simple for the customer — all they need to do is take a selfie. Liveness detection verifies the selfie is taken in real time, and face-matching technology compares the image to their ID to verify identity.

When it comes to document verification, at a simple level the machine-readable portion of a document such as a password can be verified and in higher-security cases, infrared and UV light or chip-reading are used.

While taking a selfie is easy, when customers have to resubmit their headshots multiple times this introduces friction and can cause them to abandon the process. Artificial intelligence (AI) and machine learning technologies can guide customers through the selfie process, ensuring pictures are crisp and clear, with all the necessary information captured.

Digital identity verification technologies offer different mixes and levels of these technologies, so it’s important to choose the best solution for each unique customer base and the required level of protection.

Building a blueprint for better CX

Businesses across industries must abide by many regulations, from data privacy to licensing. Compliance must remain front of mind throughout the entire onboarding process. Software robots can automate customer due diligence, such as ‘know your customer’ (KYC) checks. Businesses can verify data against internal and external databases, and reduce errors in the compliance process.

Customers – new and existing – don’t want to waste time figuring out each digital platform. When it comes to a banking or retail mobile onboarding program, ease of use is a priority for customer retention. Ensure you have a simple step-by-step journey that guides users through the process with no sticking points.

Even an advanced digital onboarding system needs a strong management team behind it. Consider technologies that give administrators the ability to securely review all identity and compliance data — including facial images, document uploads, and watchlist results. Real-time visibility lets you manage every step from start to finish.

Today’s customer is more impatient than ever, and a slow onboarding process can sour their opinion of your business. Ensuring your business provides mobile capabilities makes an efficient, streamlined onboarding process a reality. Robotic process automation (RPA) automates time-consuming tasks. AI technology such as natural language processing (NLP) streamlines document processing.

Nailing the implementation

 As with any technology implementation, there may be some challenges and roadblocks. There are a few best practices to keep in mind when evaluating customer onboarding solutions.

Firstly, it’s critical to look for automation capabilities. Some providers still involve humans in the verification process. This not only slows down the onboarding experience for the customer, but it increases the risk that fraudulent activity may go undetected. Consider implementing automated digital identity verification to keep your customers happy and the business protected.

Secondly, make sure you can address common facial biometric issues such as ageing. Identity documents such as passports and driver licenses may not always be in the best shape or quality. Can your technology adjust to these issues without sacrificing accuracy and security?

While digital identity verification helps prevent fraud, your customers are uploading sensitive documents as part of the process. What happens if an unauthorised individual gains access to the data? Businesses can’t afford a data breach any more than they can fraud, so larger security measures need to be put in place to help prevent these issues from occurring.

The customer experience ballgame is ever-changing, but in the era of risk and uncertainty, we need to refocus our efforts with security at the forefront. Turning to technology, particularly digital identity processing capabilities, gives you peace of mind and allows you to focus on the fun stuff – building experiences that engender loyalty and repeat business.




Please login with linkedin to comment

Andy Mellor Kofax

Latest News

Readers Are Looking To Books For Escape – Should They Look To Adverts, Too?
  • Advertising

Readers Are Looking To Books For Escape – Should They Look To Adverts, Too?

Now in its 27th year, the Sydney Writer’s Festival (SWF) has long provided a creative respite but this year, its selection of award-winning wordsmiths is concerned with offering the public an escape from the real world. To find out quite how the public is looking to escape from the real world through words, and what […]

Photographed by Dominic Loneragan. Please Credit Dominic Loneragan.
  • Media

Sky New Zealand Initiates Process For Advertising Sales Representation In Australia

Sky New Zealand launched a process for its advertising sales representation in Australia. Lead image: Lauren Quaintance, Sky chief media and data officer. With around 1 million paid customer relationships throughout New Zealand, Sky is home to a broad variety of content across live sport, entertainment, news, movies and kids’ content, reaching four out of […]

Opinion: Queer & Present Danger – Australia’s Battle For LGBTQ+ Recognition Through Communication
  • Opinion

Opinion: Queer & Present Danger – Australia’s Battle For LGBTQ+ Recognition Through Communication

In this op-ed, Blake Mason (pictured above), group account director at Think HQ, explains why the job of advocating for the rights of the LGBTQ+ community is not and never will be done. In today’s world, the LGBTQ+ community faces a paradoxical reality. While strides toward equality have been made globally, discrimination persists, often intensifying […]

Opinion

by B&T Magazine

B&T Magazine
Val Morgan Digital Partners With Audigent To Connect Brands With Passionate Audiences At Scale
  • Advertising

Val Morgan Digital Partners With Audigent To Connect Brands With Passionate Audiences At Scale

Val Morgan Digital has partnered with Audigent, a data platform that unlocks the power of first-party data to maximise cookie-less addressability for advertisers. The partnership provided Val Morgan Digital with a suite of tools and data management platform (DMP) capabilities for collecting and activating audience insights across its portfolio of passion-based community websites. Val Morgan […]

International Olympic Committee Launches “The First Effect” Campaign, Via Deloitte Digital
  • Campaigns

International Olympic Committee Launches “The First Effect” Campaign, Via Deloitte Digital

Deloitte and the International Olympic Committee (IOC) have launched ‘The First Effect’, a cobranded campaign that sets out to create a new metric for success beyond the podium – measuring the transformative impact of humanity’s firsts on the world’s greatest stage. ‘The First Effect’ launch marked 100 days until the Olympic and Paralympic Games Paris […]

Nine Promotes Nikki Rooke To Replace Richard Hunwick As Director Of Sales – Total TV
  • Advertising

Nine Promotes Nikki Rooke To Replace Richard Hunwick As Director Of Sales – Total TV

Nine has promoted Nikki Rooke to director of sales – total television, to replace Richard Hunwick. Currently director of sales – Sydney, with commercial responsibility for Nine’s TV, streaming, audio and publishing assets, Rooke will lead Nine’s national total television sales team overseeing Metro TV, Regional TV and BVOD. Working alongside Jo Clasby (director of […]

Thinkerbell Wants To Make Every Day A “Lovely Day For A Guinness”
  • Campaigns

Thinkerbell Wants To Make Every Day A “Lovely Day For A Guinness”

In new work from Thinkerbell and Lion, the iconic Guinness endline — “Lovely Day For A Guinness” — has been reimagined for winter in the southern hemisphere, revealing the iconic pint motif where you least expect it. “Winter is the season that Aussies can enjoy Guinness while taking in the best bits of the season. […]

The Unexpected Guest Wins oOh!media’s Inaugural Indigenous Business Grant
  • Advertising

The Unexpected Guest Wins oOh!media’s Inaugural Indigenous Business Grant

The Unexpected Guest, an Australian-made and owned breakfast food products company has been named as the inaugural winner of oOh!media’s Indigenous business grant. Lead image: Jenny Khan and Sarah Young. Launched to support Indigenous small businesses with pro-bono and significantly discounted out-of-home media packages, The Unexpected Guest was one of 63 submissions received from a […]

Indie Creative Agency Dig Wins Bendigo Bank, Launches New Campaign
  • Campaigns

Indie Creative Agency Dig Wins Bendigo Bank, Launches New Campaign

Bendigo Bank has partnered with independent creative agency Dig to launch a new campaign, its first new brand campaign in years, designed to evolve the ‘better big bank’ and reinforce Bendigo Bank as a challenger brand. Dig was appointed as the lead creative agency after a competitive pitch in 2023. Paul Rhodes, founder of Dig, […]

Made This Launches Mercedes-Benz Van’s New Online Store Through Massive LED Show
  • Advertising
  • Campaigns

Made This Launches Mercedes-Benz Van’s New Online Store Through Massive LED Show

To launch Mercedes-Benz Van’s online-store, specialist production company, MADE THIS, in collaboration with Team X Australia, developed the “Your Van, Your Way” campaign to highlight the new options for purchasing and customising your Mercedes-Benz Van, online or in-store. The campaign showcased the unique flexibility Mercedes-Benz Vans provides. The shoot took place in Melbourne, at NANT […]

News Corp Launches Indigenous Sport Week Editorial Campaign
  • Advertising

News Corp Launches Indigenous Sport Week Editorial Campaign

News Corp Australia’s annual Indigenous Sport Week has kicked off. Running from May 20-26, the editorial campaign celebrated the rich history, and future, of Indigenous Sport in Australia through storytelling. Each year, News’ sport newsrooms across the country prioritise supporting the AFL and NRL Indigenous rounds and super netball first nations round. The coverage is […]

New “Population: Unexpected” Boomtown Brand Positioning Celebrates Regional Australia, Via Thinkerbell
  • Campaigns

New “Population: Unexpected” Boomtown Brand Positioning Celebrates Regional Australia, Via Thinkerbell

Boomtown, the media collective representing the benefits of advertising to 9.8 million regional Australians unveiled a new multi-channel campaign featuring the brand positioning of Population: unexpected. The new campaign was designed to celebrate and reinforce the exponential opportunity that advertising in regional Australia offers businesses. The campaign shone a spotlight on how the burgeoning regional […]

Cairns Crocodiles, Presented by Pinterest: The Most-Shortlisted Agencies
  • B&T Exclusive

Cairns Crocodiles, Presented by Pinterest: The Most-Shortlisted Agencies

The shortlist for the inaugural Cairns Crocodiles Awards, Presented by Pinterest, was revealed at the start of the month, featuring work for brands as storied as FIFA, Adidas, KFC, Unilever and Netflix created by agencies from New Zealand, Singapore, Japan and, of course, Australia. But which agencies have picked up the most nominations? Here, we […]

Image lead story Samsung Ads’ “Behind The Screens” Event: Showcasing Market Leadership In Connected TV
  • Partner Content

Samsung Ads’ “Behind The Screens” Event: Showcasing Market Leadership In Connected TV

On a crisp afternoon at Hinchcliff House in Sydney, Samsung Ads hosted its “Behind The Screens” industry event, inviting key decision-makers from the media and advertising sectors to discuss how TV plays a role in their screens approach. The event focused on how the rise of streaming and technology is influencing viewing behaviours. Throughout the […]

Partner Content

by B&T Magazine

B&T Magazine
UM Hires Former Carat Client Partnerships Head To Lead Optus Account
  • Advertising

UM Hires Former Carat Client Partnerships Head To Lead Optus Account

Matt Evans has joined the IPG Mediabrands agency UM as managing partner of its Optus account. Based in Sydney, he is responsible for evolving UM’s strategic media approach for Optus, working closely with its account team to “deliver and create market leading value, innovation and opportunity geared for sustainable growth”. Evans begins his new role […]

Roy Morgan: Written News Reaches 97% Of Aussies
  • Media

Roy Morgan: Written News Reaches 97% Of Aussies

Written news reaches 21.5 million Australians over 14 years of age every month, equivalent to 97 per cent of the population according to Total News Publishing data from ThinkNewsBrands and Roy Morgan. The data also shows readers across all demographics are actively leaning into news, with 67 million interactions per week. Australian news readers are […]