As technology and the internet continue to penetrate into every kind of business model, human to human interaction in businesses diminishes. The application of the internet into businesses has ushered in customer and business interaction via web applications.
In the B2C business model, customers may not need to appear in person to begin a relationship with a business organization. In B2B model, it is likewise.
While the introduction of this contemporary interaction has improved efficiency and productivity in businesses, it has also unlocked the door to fraud and cybercrimes.
The onboarding process commonly used through the internet to register and verify the identity customers and clients is flawed. Businesses continue to suffer financial losses due to the defect in the process.
The Current Situation
In the common onboarding process, users sign up by inputting the required information into a website form. Information required for business onboarding process can be identification cards, passport photographs and other documents that will require upload.
It is a well-known fact that online fraudsters can supply false identification documents just to get past the onboarding process. What can be more threatening is the supply of malware by cybercriminals via channels to upload documents.
This reality has made many businesses suffer losses - financial and data losses. According to CSOONLINE, a security news platform, cybercrime damage cost will hit $6 trillion annually by 2021. The news platform also predicted that global ransomware damage costs is to exceed $5 billion this year.
Cybercriminals penetrate systems via numerous means, the familiar onboarding process is one of them.
It is also important to know your customer. With forged identification documents, an organisation can be dealing with a fraudster in ‘customer’s clothing’. The familiar onboarding process businesses run allows this to happen. It is often too late when it is discovered; as organisations only discover the flaw when there has been the loss of assets. We have also seen the loss of human personnel due to this flaw in the familiar onboarding process.
The Proposed Situation
JostKYC is a Comprehensive Screening Solutions Company that helps businesses with their onboarding process; thereby helping businesses make better decisions.
Like we now understand, every business needs a comprehensive KYC screening solution. You just need to know who you’re are dealing with and how to prevent who wants to ‘deal’ with you.
Every business opens a door but how the door is open is vital.
JostKYC helps businesses screen customers via the following:
- Email Authentication
- Bank Name Verification
- Driver’s License Verification
- Face Capture
- Identification Card Capture &
- Merchant Cross-Check
All these are provided without slowing down your onboarding process for prospective customers, as verification result for each stage of the process is instant.
With JostKYC, businesses will be able to securely verify prospective and established customers/clients personal information. JostKYC also guarantees the security and confidentiality of personal information in every interaction with her system.
With JostKYC cost-effective, mobile-enabled and enhanced screening solutions; your business can now make decisions without hesitation! Businesses can now close the door finally to the vulnerable onboarding process that has been exploited by cybercriminals.
Register with www.JostKYC.com today - close the door to identity fraud, start making better decisions.
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