Case Study – ABC

Leading cryptocurrency exchange ABC is partnering with Facia, a leading Know Your Customer (KYC) and Anti-Money Laundering (AML) platform, ensuring ABC’s continued customer growth and compliance with imminent new EU regulation of crypto-assets.

Leading cryptocurrency exchange ABC is partnering with Facia, a leading Know Your Customer (KYC) and Anti-Money Laundering (AML) platform, ensuring ABC’s continued customer growth and compliance with imminent new EU regulation of crypto-assets.

Efficient customer experience

According to Digital Banking Report, the account abandonment rates correlate with the duration of the process. Apparently, the more time a client spends on the application, the higher the chances that they will quite the process. If the process takes more than 10 minutes, the abandonment rate increases by 40%.

Companies should carefully consider the duration and complexity of their onboarding process. It’s important to understand that creating a streamlined and frictionless experience that aligns with strict KYC regulations is key to high success rates. The best way to do it is by making the user flow as short as possible.