In today’s ever-increasing digital world, it’s no surprise that many banking customers – especially those considered digital natives – are turning to their mobile devices to handle their banking needs. This includes everything from managing their existing banking accounts, to seeking out and forging new banking relationships with just the taps of their fingers.
With this in mind, it’s more important than ever to exceed consumers’ mobile expectations and create an experience that minimizes the abandonment rates that have been seen as high as 80-90% in the mobile onboarding process. One of the best ways to manage that abandonment rate on mobile devices is to streamline the application process by minimizing the amount of information prospects have to manually enter into their mobile devices, and you can do this utilizing our idMax Cloud software.
Leveraging the mobile ID Scanning capabilities of idMax, new customers can simply snap a photo of their ID – making the onboarding process a breeze. The advanced algorithms within our software will auto-detect their information and pre-fill the appropriate fields within your application. The only thing left for the user to do is verify that information is correct, and send their info your way for processing.
Mobile Onboarding isn’t Just for Banking
Many other industries can also benefit from the idMax mobile scanning technology. Casinos enrolling new VIP gamblers, hotels welcoming new overnight guests, or even retailers growing their loyalty rewards programs can all streamline the application process with the simple snap of their phone.
Businesses across many vertical markets are striving more and more to mirror the digital lifestyle of the “mobile only” generation. Consumers want ease, but more than ever they want things NOW. Is your onboarding workflow set up to meet these demands? Reach out to learn how mobile ID reading can make the best use of your prospect’s time and make them a new customer with as much ease as possible.