A new client’s onboarding in telecom might take days of information gathering, application completion, identity verification, printing or emailing, and waiting for the consumer to sign and return the paperwork. Every day that passes raises the possibility that the buyer may get impatient and find faster competitors. Furthermore, hand documentation draws mistakes, which add to expenses and delays. For larger organisations, these potential productivity costs might approach millions of dollars each year.
Telcos may gain a competitive advantage by digitising the client onboarding process. By focusing your digital transformation efforts on best practices, you may increase the competitiveness of your customer onboarding.
5 reason why telcos need digital onboarding:
1.eSIMs-future of enterprise connectivity
The wider acceptance of eSIM coupled with the growth of eSIM-capable devices has made it easier for CSPs to quickly activate new subscribers while doing away with the need for new subscribers to visit branch offices. By 2025, eSIM penetration is likely to touch 90%, as per Truphone research. A recent GSMA report says that more than 230 CSPs now offer eSIM service, recording a five-fold increase over the last three years.
Within the next four years, 87% of mobile operators and device manufacturers across the world plan to implement it thus making it essential for the CSPs to adopt online onboarding.
2. Automated digital onboarding processes reduce errors and turnaround times
From the very first step of customer onboarding, mobile-enabled, digital onboarding services provide significant advantages. The application process for operator services is complicated. Credit score checks, proof of address, income and employment, and beneficiary designation could all be verified using digital identity verification. Consumers generally require direct support from teams when a process is complex, if the process takes longer, it can lead to customer churn or worse, to give up entirely. According to statistics, 50% of SIM card registrations are begun but never finished. With clever automation from digital onboarding, telcos can streamline and simplify these procedures.
3. Digital identity verification when onboarding online
According to the standard regulations set up for telecom service requests for the customer, the identity and authorization of a client must be able to be independently verified when a service ticket is opened. The key to complying with this rule is identifying the customer and linking the identity with the request placed. Telecom organizations have another strong authentication alternative beyond the usual phone and SMS authentication methods: Digital Identity Verification. Consumers can submit images of official identification to confirm their identity using a digital solution, and organisations can extract the data from these IDs (name, address, photo) and save it in a record system for audits or future verification purposes.
4. Insist on full compliance across your digital processes
As operations evolve into digital and automated processes, there are very new possibilities and problems for regulatory compliance. For both, an intelligent digital onboarding solution is designed to help revolutionise existing processes.
Over 93% of countries need proof of identity for SIM registration, SIM card registration especially prepaid, is mandated in a number of countries. With digital identity verification, SIM registrations can enable many consumers to access value-added mobile and digital services that would otherwise be unavailable to them as unregistered users. Digital Onboarding makes it easier for telecom operators to verify the identity of users remotely while also using compliance screening tools to defend against fraud and exposed customers.
5. Fraud prevention using digital customer onboarding
People with malicious intent often spoof their identity & address proof with synthetic IDs to buy SIM cards if they know their credentials will be flagged off. Telco branch employees do not have the tools to verify & check whether the documents submitted belong to the applicant. This exposes the onboarding process to fraudsters & other illegal activities. Using a digital customer onboarding solution ensures leading-edge technologies such as AI and ML are being used to verify the real identity of consumers to prevent telecom fraud. It can help telcos identify fraudsters in real-time during the onboarding process by authenticating their presence, face identity and ID to match the person signing up for a service or buying a SIM card.
Conclusion
Technology advancements have now made it possible for CSPs and consumers to use online platforms without being concerned about ensuring security. In addition, competition from Over-the-Top (OTT) players and the emergence of new players in several markets is pushing the CSPs to accelerate their digital transformation.
IDcentral allows you to automate the extraction of information from client IDs or images of documents so that you can rapidly check them on the move. Our Identity Verification service is designed to extract, categorise, and validate documents with high precision and speed against government databases. It even identifies low-quality photos, rotated images, and any format with excellent accuracy and no mistakes.
Try out IDcentral's secure digital onboarding solutions. (https://www.idcentral.io/)
