DALLAS – February 12, 2019 – GIACT Systems, the leader in helping companies positively identify and authenticate customers, today announced a new report, Digital On-Boarding: Safer, Smarter, And More Streamlined, exploring how the pursuit of faster, simpler on-boarding impacts security and compliance, and vice versa. The report highlights the importance of KYC, avoiding false declines, and lifecycle management. It also discusses how to incorporate non-traditional data and better analytics to streamline and enhance the on-boarding experience.
To read the full article, click here
“Financial services providers understand that good on-boarding is not only essential to the customer experience – it’s also a competitive advantage,” said David Barnhardt, EVP of Product, GIACT. “Every department within an organization – from risk management, data security, compliance and marketing – has a stake in how their business captures, validates and monitors their customers’ identities. If done correctly, businesses can make on-boarding fast and easy for customers while ensuring that identity validation is rigorous and done on an ongoing basis.”
“Financial services providers understand that good on-boarding is not only essential to the customer experience – it’s also a competitive advantage.”
David Barnhardt
EVP of Product, GIACT
Thoughtful approach to digital on-boarding
“Today’s identity-related crimes are dynamic and challenging,” said Al Pascual, senior vice president, research director and head of fraud & security, Javelin Strategy & Research. “For financial institutions, a knee-jerk reaction to avoid the financial impact of these crimes can lead to ever increasing layers of controls, complications, costs, and a negative experience for the customer. Taking a thoughtful approach to managing identity risk has become a critical aspect of maintaining profitable growth.”
As detailed in the white paper, GIACT’s recommendations for securing the on-boarding process, while keeping on-boarding friction at a minimum, include:
- Securing real-time access to a broader range of identity-related data
- Applying advanced analytics and machine learning
- Providing quick and easy access to identity intelligence so that it can be used across relevant departments
- Implementing a plan for action and digital vigilance
GIACT is the only financial technology provider that offers a complete set of enrollment, payment, identity, compliance and mobile solutions built on a single platform – the EPIC Platform®. Learn more about GIACT’s EPIC Platform via the link, here.
–via PRNewswire
