‍7 Best Digital Onboarding Solutions

There are many appealing possibilities when starting an Internet business. Imagine reaching customers worldwide, operating around the clock, and having greater control over your data.

However, verifying identities securely is a challenge compared to traditional in-person setups. This is where digital onboarding comes in.

Let's explore the potential risks involved, why a smooth onboarding process matters, and how to achieve both security and a positive first impression for your new customers.

We'll dive into the 7 best digital onboarding solutions to help you make informed choices.

How does digital onboarding work?

Digital onboarding solutions take the traditional customer sign-up process and do it online.

When potential customers find your website or app, they can sign up for your service in a few easy steps with just their device – no paperwork involved. These steps are designed to be user-friendly and clear, but they also serve an important purpose – ensuring you follow modern requirements like Know Your Customer (KYC) and Customer Due Diligence (CDD).

Digital onboarding solutions utilize technology to speed up the enrollment process. This includes automation to make things faster, document verification to confirm the information provided, and identity authentication to ensure it's really who they say they are.

The result? Efficiency, security, and compliance.

7 best digital onboarding solutions

Signzy

Founded in 2015, Signzy focuses on revolutionizing onboarding for financial institutions and their clients.

Their no-code GO platform allows for complete customization of workflows, creating seamless, multi-channel onboarding journeys. Signzy's solution includes features like AI-powered assistance, secure digital contracts with biometrics, risk assessment tools, and streamlined identity verification with Anti-Money Laundering (AML) checks.

Jumio

Jumio tackles onboarding inefficiencies by offering a complete package for identity verification, authentication, and AML solutions.

Their Know Your eXternal party (KYX) Platform lets you perform enhanced identity checks, fostering trust with your customers and creating a secure environment for everyone. With integrations for major platforms and over a billion transactions processed, Jumio is a proven and versatile choice.

Onfido

Onfido cuts through the complexity of digital onboarding with its user-friendly solutions.

Their platform connects you with customers in a secure and genuine way, all while ensuring compliance with KYC and AML regulations in your operating regions. Onfido's 2022 launch of the Real Identity Platform further streamlines the process with a focus on simplicity, intuitiveness, and intelligent verification methods.

Hyperverge

Established in 2014, Hyperverge boasts patent-pending technology that uses photos and videos to identify individuals, locations, and events.

This innovative approach has partnered with many banks to facilitate online customer onboarding, especially during the COVID-19 pandemic. Hyperverge's video KYC solutions offer high accuracy, allowing banks to provide convenient digital services. Additionally, the platform performs pre-qualification checks for elements like name, address, and document authenticity.

Trulioo

Trulioo empowers you to automatically verify customers worldwide.

It seamlessly integrates with local verification ecosystems, allowing you to scale and grow your business with confidence. Trulioo offers a one-stop shop for online document verification, business verification (including AML/KYC checks), and proof of address verification.

Mitek Systems

Mitek Systems specializes in digital identity verification solutions, offering a robust KYC suite.

Their platform includes document verification, liveness detection (ensuring a real person is behind the screen), biometric verification, and more. Mitek's technology helps businesses establish trust and security throughout the customer journey.

Digital onboarding benefits

Convenience

Gone are the days of lengthy paperwork and in-person appointments. Digital onboarding allows users to sign up from anywhere, at any time, using their own devices.

Speed

The streamlined nature of digital onboarding cuts down on processing time. Users can be up and running in minutes, not hours or days.

Enhanced security

Digital onboarding solutions incorporate technologies like identity verification and document checks, leading to a more secure environment for both businesses and customers.

Improved user experience

Digital onboarding is designed to be user-friendly and intuitive. Clear instructions, progress indicators, and the ability to complete the process at their own pace create a positive first impression for new customers.

Conclusion

The digital age has transformed the way we conduct business, and customer onboarding is no exception.

By embracing digital onboarding solutions, you can streamline the process, enhance security, and create a positive first impression for your new customers.

Using the right tools  can be valuable, offering real-time guidance and insightful data to optimize your onboarding experience.