Data verification with GlobaHub

How do different businesses use data verification?

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  Banking

  In the banking sector, data verification is crucial for improving online payment security and facilitating the seamless onboarding of new users. By verifying the identity and information of customers, banks can:

  • Enhance security. Verifying customer information helps prevent fraud and unauthorized access. This ensures that only legitimate users can conduct transactions.
  • Streamline onboarding. With data verified, banks can quickly onboard new users into their apps. This not only improves the user experience but also increases customer satisfaction and retention.
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  E-commerce

  For e-commerce businesses, data verification plays a vital role in reducing cart abandonment and boosting revenue. Data verified ensures that transactions are secure, which helps in:

  • Securing transactions. By verifying payment and customer details, e-commerce platforms can protect against fraudulent activities. They can give customers confidence in the safety of their transactions.
  • Reducing cart abandonment. When customers feel secure, they are more likely to complete their purchases. This results in reduced cart abandonment rates and increased sales.
  • Enhancing UX. Accurate and verified data helps ensure that products are delivered to the right addresses. You can minimize delivery issues and enhance overall customer satisfaction.
• 
  Social Apps

  Data verification process is essential for maintaining the integrity of user accounts and reducing churn. By implementing simplified one-factor authentication (1FA) on mobile devices, social apps can:

  • Prevent duplicate accounts. Data verified helps in identifying and eliminating duplicate accounts. Data verification ensures each user has a unique and authentic presence on the platform.
  • Reduce churn. Simplified authentication processes make it easier for users to log in and stay engaged with the app, thereby reducing the likelihood of users abandoning the platform.
  • Enhance user trust. When users know that their information is secure and their accounts are authentic, they are more likely to trust and remain loyal to the app.