Every fintech knows how much it costs to onboard a new client—and how much they’ll lose by relying on bad data to do so.

Bad data leads to a poor onboarding experience, and users will take their business elsewhere before they submit further proof of their identities. Even worse, fintechs relying on this shoddy data are failing to comply with Anti-Money Laundering Laws and risk incurring hefty fines.

Electronic Identity Verification (eIDV) eliminates these problems. By relying on high-quality data, eIDV keeps companies in compliance with AML laws and streamlines the onboarding process for users by verifying their identities within a matter of seconds.

As a result, fintechs earn $412 for every one dollar invested in onboarding new clients.

Currently, financial services are caught amidst a perfect, digital storm. While account opening has traditionally been the final hoop that individuals had to jump through in order to become a customer, the onboarding process has transformed into the last mile of a customer acquisition funnel and financial institutions can no longer assume that individuals will see it through. 

Investing in technologies such as electronic identity verification (eIDV) can eliminate unnecessary friction and help financial institutions land the customer. In fact, a dollar spent on onboarding with eIDV is worth $412 in Customer Lifetime Value. 

This report, created alongside Liminal (formerly OWI), will show you how to make sure you are getting the most out of your onboarding funnel eIDV process.

The Report Includes:

• Insight into digitisation as the future for financial services
• The increase in the importance of Bank from Anywhere (BFA) and why that matters
• Consumers’ digital demands
• Neobanking explained
• Common Know Your Business (KYB) onboarding pain points
• Repositioning identity verification as a customer acquisition cost
• How to get the most ROI in your digital onboarding process

In this eBook, we will discuss the common misconceptions and challenges surrounding eIDV in markets outside of the U.S. and how you can adjust your verification strategy to achieve the best match rates globally.

Gambling Moves Online

Despite an enduring popularity among most of the general population, gambling has historically been painted as a somewhat shameful vice. In the modern era, these ancient moral standards have led many jurisdictions to enact incredibly strict laws and regulations limiting legal gambling, in some cases even attempting to end the practice altogether.

This has not stopped gambling from becoming a worldwide phenomenon. While there has always been widespread public interest in gambling in one form or another, the digital revolution brought new ways for consumers to play and made it easier and more comfortable than ever before. This attracted new types of players and helped normalize gambling as a respectable pastime.

In most industries, being compliant in one jurisdiction typically means that you can succeed another because of international trade laws and agreements. For online gaming, however, this could not be further from the truth. To date, and despite the ever increasing cross-national collaboration and globalisation, there is no international legislation for gaming. Instead, gaming operators need to look at each country individually.

This whitepaper explains how varying levels of stringency contribute to the regulatory landscape of online gaming as a whole.