"How can digital identity be leveraged to deliver better customer experiences?"
"Digital identity platforms are the foundation for a frictionless and trusted digital user experience, whether that's for online banking, customer onboarding or other applications. With fast and secure digital identity, banks and other businesses can offer a smooth user experience by ensuring that the user reaches A to B in a frictionless way. All the while the user remains in the bank's brand without interruptions. Digital identity gives customers the ability to switch smoothly between service platforms without having to re-enter their identity, and also makes it easier to access value-added services such as credit applications, mortgages and lending without frequent authentication requests that put some customers off."
"Can you give an example of how digital identity improves conversions and profitability?"
"By implementing a digital identity solution, a bank or organisation can reduce the time and cost of customer authentication while improving the customer experience. When customers shop online for example, digital identity significantly reduces the number of escalated authentications required under SCA (Strong Customer Authentication), which eliminates friction at checkout and improves the conversion rate. More broadly, digital identity strengthens customer loyalty and grows revenue by speeding up online service delivery and enabling greater automation."
"Compliant, modular digital identity solutions can help banks make the most of digital transformation - especially when it comes to automating processes such as customer onboarding, dispute resolution, bill payments, and other processes that are still stuck in the paper age. Digital identity makes customer onboarding easier and reduces friction while using their services."
"How do you see digital identity effecting Open Banking?"
"As Open Banking makes it possible to access a vast range of services through a single banking portal, digital identity solutions will be essential. Digital identity enables customers to move smoothly between service platforms without re-confirming their identity, offering a single, easy-to-use, and flexible way to access multiple services on one platform. Open Banking holds tremendous promise both in existing use cases and new applications – and I am sure that digital identity will be central to access this potential."
