Businesses have under 10 minutes to approve new accounts online

A joint study by Onfido and Okta finds that businesses have just 10 minutes to set up new digital accounts or risk losing consumer trust. This is true across sectors, 65 percent want to open a bank account in less than 10 minutes, 69 percent to book a car rental, 72 percent to open a telemedicine account and 77 percent to register a gaming account. "From the moment a consumer visits a service provider's website or downloads an app, they're evaluating whether the business can deliver a trusted digital service, providing security and keeping their data private," says Mike Tuchen,… [Continue Reading]