How does the prepaid fintech sector approach customer onboarding and KYC?
HooYu working in collaboration with Prepaid International Forum (PIF) have produced a report to share insight on how the prepaid fintech sector approaches customer onboarding and KYC processes.
We have gathered real-world data from PIF member organisations to understand the efficiency of customer onboarding processes in conjunction with the KYC tools and approaches used.
A key finding amongst fintech and e-money businesses is that 26% of customer applications are falling by the wayside.
The report also includes insight and analysis into:
- What % of fintech & e-money customer onboarding processes pass KYC?
- How long do KYC processes take to complete?
- Where do customers drop-out in the onboarding process?
- What % of customers drop-out when asked to provide an ID document?
- What % of customers drop-out when asked to provide an address document?
- How do firms expect to improve levels of new customer acquisition?
Download a copy of the report below
