Digital Onboarding: Secure User Verification

Technological development and innovation has been vital for companies in times of pandemic, and the so-called Fintech They are at the forefront in this scenario. identity validation is essential and digital onboarding is the ideal solution.

Offering diverse services, they must satisfy the demands of an increasingly diverse clientele. Therefore, it is no longer enough just to deliver your services, you must also focus on performing a digital onboarding efficient, fast and safe to identify your customers.

Fintech: A business that is consolidated in Mexico

Fintech companies are those that incorporate advanced digital technologies to optimize the services they deliver. According to the latest edition of Fintech Radar Mexico, prepared by Finnovista in conjunction with the Inter-American Development Bank (IDB), counted 441 Fintech startups operating in the country, consolidating Mexico as the Latin American power in this area.

Considering the health crisis, the number of people who need this type of company is in the millions in Mexico alone. According to Statista estimates, by 2022 there will be 74.62 million fintech users in the country.

However, the heyday of this type of technology requires responsibility, both from users and startups. For a secure digital onboarding, it is necessary that you carry out an incorporation of different identity verification systems; in this way, a correct identity and access management To the platforms.

The benefits of incorporate a digital onboarding with verification systems are:

  • Reduces identification times.
  • Avoid financial fraud.
  • Minimize cybercrime.

Cybersecurity: Fundamental in Fintech

Due to Mexican regulations, these companies are required to comply with the identity validation process. However, they need to adapt new technologies to efficiently validate users.

Avoid any security problems through secure authentication, and improve the identity and access management of your users.

According to the news portal Real State Market, the year 2021 became the year with the most cyberattacks in Mexico; As a figure, in February alone, more than 15 million of these attacks were carried out.

In addition, the study "Panorama of the Cybersecurity Ecosystem", developed by Endeavor with the support of PayPal and KIO Networks, showed that 65% of the surveyed companies allocate between 1% to 5% of the total budget for cybersecurity.

The results also show that, due to the current situation, they have increased their budget by 27% in this matter.

Increasing the budget is essential to improve security, however, it must be invested in an efficient way, and digital onboarding cannot be the exception.

Know Your Costumer (KYC): Solution to the threat

To improve the security of your startup, KYC methods are the most effective to identify the person; today it is necessary to include, for example, biometric data that improve digital onboarding, and thus avoid any authentication error and cybercrime.

Codster is the ally you need to quickly and agilely verify the identity of your customers. With a secure and shielded system, it avoids any authentication error in financial and banking processes, among others.

In Codster We offer a platform to validate and authenticate your clients in a comprehensive way. With key functionalities, it verifies and verifies the identity of your clients in a 100% remote and totally secure way.

In addition, through a first-rate KYC solution, launch your product on the market and streamline your financial processes. You will have a personalized platform to avoid additional software integrations and avoid problems with the identity verification of your users.

Alejandra Correa

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