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Streamlined KYC Process Redesign for Enhanced User Experience
  1. case
  2. Streamlined KYC Process Redesign for Enhanced User Experience

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Streamlined KYC Process Redesign for Enhanced User Experience

effectivesoft.com
Financial services
Information technology
Security

Current KYC Process Challenges

The existing KYC process suffers from a 39% abandonment rate due to an overly complex, multi-step verification system. Users face difficulties navigating lengthy forms without guidance, lack of transparency about data requirements, and insufficient status tracking capabilities. This results in frequent support requests and diminished user satisfaction.

About the Client

Digital banking platform provider focused on compliance and financial transaction services

Key Project Goals

  • Increase KYC task success rate by 33%
  • Reduce process abandonment rate by 39%
  • Minimize technical support requests through improved UX
  • Implement real-time status tracking for verification progress

Core System Requirements

  • Step-by-step guided verification process
  • Contextual explanations for sensitive data requests
  • Real-time progress indicators and status tracking
  • Automated form field validation and formatting
  • Integrated support chat for verification issues

Technology Stack

ReactJS
TypeScript
Node.js
AWS
Power BI
React Native

System Integrations

  • Identity verification services (e.g., Jumio, Onfido)
  • Customer Relationship Management (CRM) system
  • Support ticketing platform integration

Performance Requirements

  • 99.9% system availability during peak verification hours
  • Sub-200ms response time for form validation
  • GDPR and financial data compliance encryption
  • Scalable architecture for 10x user growth

Expected Business Outcomes

Implementation of the redesigned KYC process is projected to significantly improve user satisfaction metrics, reduce operational support costs by 40%, and increase customer onboarding conversion rates. The enhanced verification system should directly contribute to improved regulatory compliance and accelerated user acquisition for financial services.

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