Feature 2. It powers real-time customer and merchant onboarding
If you’ve ever seen Back to the Future II, you’ll know that hover boards are the trendy, must-have item. Which means you need to make it really easy for merchants to offer BNPL options on their hover board sales, and you need to make using your BNPL product to buy those hover boards seamless. While we’re using a lighthearted example here, there are often times where BNPL purchases have a significant impact on consumers, such as for healthcare and small business purchases. When instant gratification is expected and often needed, technology that helps you prioritize the onboarding experience for both merchants and customers is essential. You need powerful automation capabilities that minimize the effort needed from your customers and relies on technology to perform the heavy lifting. Choose technology that can use automation to augment customer data with the additional information you need to perform robust compliance checks, identity verification and risk decisioning. All in real-time. If you can’t onboard customers in milliseconds, your competitors will. 60% of customers abandon applications for unsecured lending products during digital onboarding. 4
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