Implementing mobile identity verification is a smart step towards improving the security of your business. Companies are seeing an increase in security breaches because of spammers and scammers. If you do not take any steps to curb these breaches, it can result into a poor customer experience and may lead to a decrease in customer retention. Even worse, it could negatively affect your brand and result in legal and financial repercussions.
To reduce the potential for compromised security, what you need to do is consistently using phone verification for verifying phone numbers at every stage of the customer lifecycle, including account creation, transaction authentication, as well as ongoing customer engagement activities. Billions of mobile phone numbers are registered worldwide every year, meaning that the mobile phone number is the ultimate way to verify user identity.
There are various user management best practices where mobile phone verification can increase security and boost customer acquisition and retention. One of them is authenticating registration. When a new user registers for your application, mobile identity verification can help authenticate identity, something that will help you ensure that a new user is who they claim to be.
For instance, if a new user downloads an app and registers a new account, they will get a PIN code via a messaging service, like MMs, SMS, WhatsApp, Facebook Messenger, or Viber or via a voice message to be entered in the app on their device to complete the user registration process. This links a user and their device.
Another best practice where mobile phone verification can increase security and boost customer acquisition and retention is authorizing upgrades. A lot of applications employ a freemium model. This simply means that the basic app is free to use but a premium version can be accessed via a paid upgrade. Providing a message with a PIN to verify mobile users and their intent to upgrade can help in minimizing mistaken downloads as well as curbing fraudulent downloads.
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