When doing digital business, you will never meet your customers face-to-face, and there is a need to establish certainty and proof of the customers' identity. Digital on-boarding must be simple for the user, while at the same time give the business enough information to ensure trust.
Many organizations have complex on-boarding processes, which puts a high demand on the user. A survey we did, showed that 40% of financial customers don't go through with the process.
It is important to balance convenience for the user with risk and regulatory requirements, to achieve reasonable assurance.
The eIDAS regulation (Regulation (EU) 910/2014), defines assurance levels, which are in the process of being incorporated in the local laws throughout Europe. This regulation will affect how identity assurance will be done.
