TrueLayer Launches Signup+ to Transform Customer Onboarding

Today, Europe’s leading open banking platform TrueLayer announces the launch of the UK’s first automated onboarding product using open banking APIs.

Signup+ is the first new generation service created using open banking technology. It combines creating an account and making a payment, which simplifies the registration process. It uses data from the bank to verify the customer’s name, address and date of birth in seconds to expedite registration for KYC requirements, all done with a single quick deposit from the customer’s online bank. The funds are instantly credited to the client’s account, so he can immediately start using the service, for example, to fund an account in an asset management application or trade cryptocurrencies.

Companies that have already signed up to use the product include Remitise, Tiger Brokers, PayItMonthly, and StakeMate.

The TrueLayer Signup+ product is the solution to the inefficient registration and account registration processes that plague so many businesses with the need for verification to sign up new customers and cause high bounce rates.

Many companies in regulated industries have complex and lengthy onboarding processes that are difficult for new clients to manage. According to new YouGov research commissioned by TrueLayer released today, 4 out of 10 people start the process of creating an online account for a service but never complete the registration. 46% of users opt out when asked to provide information in response to a confirmation request, and three-quarters of customers are willing to take no more than 10 minutes to sign up before giving up. Signup+ provides a secure, reliable and fast way to acquire new customers to avoid this churn. This reduces the threat of payment fraud and identity fraud with banking authentication built into every payment and real-time identity verification. It also helps businesses reduce the transaction costs associated with manual verification checks and helps save on transaction costs compared to cards and manual bank transfers.

Adebayo Familusi, CEO of Remitise Limited, said: “We are very excited to be able to use Signup+ with Remitise. Traditionally, the registration process often involves manual and time-consuming tasks such as collecting and verifying personal information, identity verification, and address verification. By getting customer data from their bank, Signup+ will simplify the onboarding process and save time and resources for our company and our customers. This will improve the overall customer experience and increase the conversion of new customers by eliminating the need for them to manually enter their personal details.”

Francesco Simoneschi, CEO and co-founder of TrueLayer, added: “In the financial services industry and beyond, clunky and inefficient registration processes lead to up to 40% of potential revenue being lost.”

“Using open banking technology combined with real-time identities, Signup+ automates the registration process in a way that was previously not possible in the UK. Signup+ represents the next generation of open banking use cases and brings adaptation to the forefront of the conversation about where open banking is going in the future.”

TrueLayer’s message launches Signup+ to transform customer onboarding first appeared on Fintech Finance.

Content Source

Dallas Press News – Latest News:
Dallas Local News || Fort Worth Local News | Texas State News || Crime and Safety News || National news || Business News || Health News