Why On-boarding Speed Tests are Brand Critical

After more than two years of pandemic induced remote digital interactions, consumer expectations for fast and easy-to-use mobile experiences are higher than they’ve ever been.  Yet despite the ubiquity of digital and remote offerings, companies are finding it difficult to keep up with growing consumer expectations for a better mobile experience. Brands are no longer competing with the best experience in their category, they are competing with the best digital experience a consumer has ever had. An online shopper who can purchase an item in one or two taps on a retail app will hold the same standards of speed and convenience to her bank app when she deposits a cheque, a travel site when she books a flight or a hotel that she wants check-in to.

If customer expectations aren’t met, the outcome is usually costly – especially if switching costs are low. When faced with a mobile unfriendly app, 61% of consumers are likely to go to a competitor’s offering instead, while 45% are less likely to visit an app again if they’ve had a poor experience. If your application doesn’t make an excellent first impression, brands can lose up to 25% of users right from the start.  Added to this, the average per user in-app session across iOS devices is only 5.6 minutes.

Let's say your mobile application on-boarding session is not fully automated, has multiple steps, and takes about 2 minutes to process full identity verification. That’s almost 40% of your customer engagement time consumed just trying to validate that the user is who they say they are.

From a brand perspective, user retention rate, churn rate and session length are all important metrics that can be extremely challenging if the customer mobile app experience is less than smooth.  A well-designed onboarding process can increase retention by up to several dozen percentage points because the first contact with the application is so significant to customer perception.

 Nowadays, remote onboarding is normal, and a good onboarding process needs to be simple, understandable, and fast. Data from a recent Clutch survey shows that nearly 72% of respondents thought that the onboarding process shouldn't take more than 60 seconds.

The simple truth is: speed matters. But it doesn’t require an entire overhaul of your mobile application, your on-boarding processes or come at the expense of accuracy. With the right identity verification platform, you can deliver the digital high-quality experience your customers expect – at scale and without sacrificing security and importantly: user privacy.

 Based on our recent competitive testing of biometric identity verification offerings, Incode is 3X faster for on-boarding response times. Early-to-market non-automated identity products range between 1.5 minutes up to over 2 minutes to on-board the average customer.

 

With faster ID validation and capture times, face validation times, and a fully automated and integrated platform – Incode’s average onboarding time is 40 seconds or less.  That’s significantly more time for customers to spend accessing your company’s products and services and building the customer engagement you want to match your brand.

So why not take the on-boarding speed test? Your brand and your customers will thank you for it.

For more information on Incode’s market leading Omni identity verification platform please click here