E-Banking Challenges Today
Many bank customers are not using available e-banking services at all. Even among the adopters, many don't use these services frequently. The occasional loss of access credentials, which is a common occurrence across all customers, leads to substantial re-activation costs and frustration, and can result in customer churn. Traditional and digital banks alike face these challenges. As a result, all customers miss a lot of the potential value — and so do their banks.
Root Causes
The entire e-banking security experience, from customer onboarding to activation, from regular log-ins to transaction confirmations, poses challenges. Securely verifying user identities and intentions remains a major stumbling block and a significant deterrent. The high attractiveness of the services following verification contrasts sharply with the underwhelming experiences during the verification itself. Processes involving postal mail for activation delay users, while multi-factor authentication steps often confuse and irritate. Simple calls to customer support become prolonged exercises in confirming identity. Moreover, the absence of automated caller authentication prevents the use of innovative solutions like voicebots.
Untapped E-Banking Opportunities
Many bank customers are not using available e-banking services at all. Even among the adopters, many don't use these services frequently. There is strong evidence that simplifying the onboarding, activation, and authentication processes boosts customer satisfaction. It promotes more quality time spent on e-banking platforms and encourages users to interact more frequently. By lowering these barriers, banks can effectively reach their audience, increasing loyalty, elevating their market image, fostering business growth, reducing costs, and increasing revenue streams — all without sacrificing security.
Our Value To You
We at besec.digital have many years experience in this area and have crafted secure, user-friendly, and economical solutions that enhance the onboarding, activation, and authentication experience across digital channels.
Specialising in digital identity and authentication we create uniquely innovative security solutions. We enable modern, sustainable businesses that take human centered design serious.
Security has to be awesome, not awkward.
