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12/27/2021

Remittance Platforms Tap Behavioral Analytics to Reduce Fraud, False Positives

PYMNTS.com

Onboarding sets the stage for the rest of the customer experience, regardless of industry — one recent report found nearly two-thirds of consumers think about the onboarding process before making a purchase, for example. The study also found 74% of individuals surveyed are likely to abandon purchases if this process is too complicated.

One-third of consumers would switch to another company instantly in the face of lackluster service, according to another report, indicating that starting the customer experience off right is crucial to retaining their business. This means companies must understand consumers’ needs and preferences instantly, which is where solutions such as behavioral analytics could have a significant impact.

This month’s Monetizing Digital Intent Tracker®: Using Behavior-As-A-Service To Drive Top-Line Growth examines the potential benefits of behavioral analytics for boosting customer satisfaction and retention.

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