How Digital Identity Verification attracts Millennials to Investment Banking

For most of us, time management is an essential aspect of our daily lives. Especially in a digital world like ours, time is often considered more valuable than anything else. Today, innovations are developed to make our lives easier by saving us time so we can get more things done. Millennials are used to living in a community where digitalization is a part of the everyday routine.

Moreover, they will continue to shape the future of consumers. They are also apparently losing trust in banks. So the challenge is to re-imagine investment banking and to provide a new opportunity to attract them again by utilizing the possibilities of digitalization.

Timesaving, innovative solutions are expected to capture attention in the future. As today’s digitalized world allows companies to come up with innovations, the use of VideoIdent is an excellent opportunity for banks to engage millennials in investment banking.

Online identity verification via video has opened a new door in banking that will gradually replace traditional banking. A two-week onboarding process, which includes printing an application, dropping a package in the mail and verifying your identity at a post office, is simply no longer up to date. This would lead to loss of interest, no matter how professional and customized the solutions that a bank can offer. With a video identification solution, time is no longer an issue in the path to gaining a customer.

Curious about how identity verification meets digitalization? Check out our case study of Selma Finance!


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