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Mobile account opening is now a requirement in competitive industries such as financial services, healthcare, hospitality, and retail.

 

 

But getting mobile account opening right can be a challenge. Organizations need to:

  • Verify the identities of mobile users, typically by analyzing photos of driver's licenses or other IDs.
  • Complete this verification in real time in order to reduce application abandonment rates that can reach as high as 80%.
  • Deliver a great experience for mobile users, who have high expectations for fast, frictionless service.

Machine learning offers a solution. By applying advanced imaging analysis, machine learning can quickly and reliably authenticate IDs such as driver's licenses and passports that users submit as part of a mobile account opening process.

Read this paper to learn how Machine Learning can help organizations optimize mobile onboarding to reduce risk and deliver a fast, frictionless customer experience.

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