It seems to be the case that millennials want a simple and effective user experience when utilising online services, but how can businesses ensure their 25-35 year old customers are happy whilst ensuring a secure and robust verification process to protect themselves from fraud?
Businesses should be ensuring that they are delivering a user experience that makes their customers feel secure and protected by their security measures, whilst providing a smooth digital journey.
We’ve mentioned previously (here), how important customer convenience should be to a business, and with the wealth of digital data that is now available on an individual this should be simpler to do, more so than ever before.
So how can we keep millennials happy during your digital journey?
Millennials & Their Digital Footprint
Millennials are spending, on average, 2 hours and 38 minutes on social media each day – whether that is posting, sharing, liking or simply just browsing. Inevitably, they’re creating a larger digital footprint for themselves each day, resulting in more and more available data that could be analysed with their explicit consent.
It is estimated that 55.4 million millennials will be using digital banks by the end of 2019 – but why are they making the move to the digital side over your traditional bank?
In a survey carried out by Experian, it was found that 42% of millennials would carry out more online transactions if there weren’t so many security hurdles to overcome.
By providing millennials with an option other than to find two pieces of physical proof of identity, such as a passport and utility bill, will ultimately see more millennials onboarded.
Many businesses are already looking to enhance their digital strategy when it comes to the onboarding process for customers, so what are you waiting for?
Leverage the alternative data that is available, with your customer’s consent, to make automated and more informed decisions in order to uplift your customer acquisition whilst keeping your millennial customers happy, avoiding drop-offs in the digital journey.
How we can help
Innovation is the core of what we do here at Hello Soda and it is important to us to ensure a frictionless user journey whilst providing a robust, global answer to identity verification.
Our identity verification solutions provide a complete 360 KYC solution for your business allowing your customers to verify their own identity in less than 5 seconds, with just 2 clicks, while you deliver a frictionless user journey and an automated, enhanced verification process.
Get in touch today to find out more about our identity verification solutions and how we can help your business to stay one step ahead in the digital age.