The pandemic has brought changes to the way many consumers behave. Notably, the lockdowns imposed led to the increased use of digital platforms for day-to-day activities and transactions. Many businesses also increased their digital engagement to remain competitive amid the challenges brought by the pandemic.
On the sales side, enterprises had to reshape how they deliver customer experience by managing their supply chain and ensuring hassle-free transactions to customers. Companies call outsourcing responded to these changes by developing excellent customer relationship management systems and increasing campaigns across several platforms when it comes to marketing.
Companies need to establish trust and loyalty to retain customers while bringing in new ones. All this is done as they juggle challenges in a competitive environment. However, creating certainty in such challenging times can be a difficult endeavor.
The increased use of digital platforms also increased the risk of fraud and other cyberattacks on enterprises and customers. Companies need to address digital safety in their digital transformation through solutions such as employing robust mobile identity verification.
To ensure fraud prevention for businesses, there are industry and regulatory requirements that need to be considered. An example of this requirement is using Strong Customer Authentication.
Under Strong Customer Authentication, the online identity verification is based on at least two elements: inherence, possession, and knowledge. For example, they know how to enter a password or pin. The second factor is ownership. It refers to something that the user owns, such as a phone or hardware token. The inherence factor is designed to ask users if they are like their biometrics. SCA’s policy aims to increase customer protection and strengthen security measures in the business market.
Establishing a robust security defense for digital platforms increases users’ trust significantly. It is why business owners need to ensure that all details given by customers are immensely protected against fraud and threats. It is not easy to get people to trust you and use your products or services. If you already have loyal customers, it is essential to maintain that trust. Guaranteeing the protection of their information is one way to do that.
For more details about compliance regulations and how it influences user trust, check this article from Login ID.
