How Know Your Customer (KYC) Platform Choices Affect Communication Service Providers (CSPs)
Every opportunity to positively engage with customers is also an opportunity for the CSP to differentiate its service from the competition, improve the customer experience, loyalty and increase sales.
As identity theft, online fraud and the general use of mobile devices for physical and financial harm become more common, CSPs are required to perform Know Your Customer or KYC checks on customers across the world. Verifying and servicing new and prospective customers claiming a new mobile number or device to protect the network may not seem like an area of challenge for mobile service providers. Especially, given that this is neither new technology nor driven by a new government mandate. Our experience with carriers, dealers and subscribers and our investigation into the current state of how KYC is performed today - surprised even many of our own employees!
At its core, KYC entails that the CSP verifies the prospective eSIM or SIM owner, often in the form of a new mobile phone owner requiring a new SIM to enable service, for user identity and background information. Details typically include the user's contact details, photograph, passport or other government issued ID, signature, phone usage, credit rating and details such as the SIM ICCID and phone IMEI. The need for a system that supports all of this functionality in a single platform and also ties into an operation system capable of quickly and seamlessly moving the prospect or customer after verification to the activation stage is very visible.
Snaking queues at dealer outlets with wait times up to 30 minutes; requests for making customers provide physical photograph copies and document copies; data capture and transmission errors; hard-to-read handwriting or even worse - lost forms; and the need for users to come back in a few hours or a few days are all telling signs that manual and/or disjointed solutions and processes are in use. A comprehensive bio-metric verification and e-documents ready KYC platform with integrated real-time activation capabilities performs all of the required KYC functions and also provisions the user, his device, plan and associated SIM all on the network digitally and in real-time.
Beyond just faster processing and giving the dealer and their staff the option to service the customer anywhere anytime, a system that also has user consumption and behavior data helps the dealer deliver the best user-experience possible. Without this error-free user consumption data, this personalized attention is, simply, not possible.
The long-term loyalty from such a positive experience in the early stages of the customer life-cycle is difficult to match when this opportunity is missed in the absence of an integrated real-time digital engagement strategy and solutions. For more information on this topic... please contact us.