Identity verification must be instant
ReadID helps you to be ready for the digital natives, the people that work and think mobile-first, without scaring off the less digitally educated customers. It creates instant identity verification. This is very important, as any delay can lead to churn. ReadID is fast: the first OCR steps typically less than 7 seconds, total time. NFC read time averages 5 seconds, with 90% within 10 seconds. We continuously optimise our technology to enhance speed, without compromising on security.
Optical solutions can lead to delays of minutes up until days, as our customers notice. Low conversion was a reason for Rabobank to move into ReadID - About 50% of all applications were rejected, in 3/4 of the cases the information on the ID was not clearly legible, incomplete or shielded, ID proofs were expired or something went wrong with the payment of 1 cent.