According to a recent report from KPMG the bank of the future will be invisible, for a bank to become truly invisible payments should be processed without a human interaction. KPMG foresees a Siri like experience called EVA which stands for Enlightened Virtual Assistant. This EVA will be able to fulfil daily personal and financial obligations, informed by data gatOnegini is challenging Gemalto and IBM in this years Sprout Challenger50 listhered from a fully connected way of life.
But before this can be a reality the authentication and authorization of transactions needs to be simplified. EVA makes no sense if she/he has to ask you to grab your hardware token to do a challenge/response action. At Onegini we have created a frictionless way for consumers to authenticate themselves and to authorise transactions paving the way for EVA to become a reality.
Everybody knows that friction = PAIN and pain is something to avoid entirely, well maybe not for everybody but let's not get into that. When you want or need something, to actually pay for it is not part of the fun process, yes you have to pay for stuff and I am not endorsing stealing here but the handover of actual tangible money or even digitally is not something people generally love to do. Ok maybe an old fashioned bank teller yes but that is a dying breed anyway.
Offering a customer a way of acquiring a product or service with just one click will help considerably in creating a frictionless experience. But for that to become a reality a lot of things needs to be considered, do we know the customer, is he/she actually who he/she claims to be, is someone looking over their shoulder, open and unsecured WiFi network and many more security related aspects.
We believe this should be not the concern of the customer or the organization they want to do business with. Our platform takes away all these concerns and offers an out of the box solution. If you believe in a frictionless CX and invisible banks give us your vote on the Sprout Challenger50