How Surepass has helped the Leading Crypto Platform customer drop-offs by 60%?

This platform was founded in 2017. In the initial phase, it worked as a crypto exchange aggregator. It offers a secure space for users and supports multiple cryptocurrencies. Now, it is renowned as India’s leading cryptocurrency investment platform. It allows users to easily buy, sell, and trade digital assets.

This platform was facing the challenge of high customer drop-off rates during the onboarding process due to the lengthy verification process. After understanding the issues, Surepass has offered several solutions to streamline the onboarding process with accuracy in the verification.

Challenges Faced by Leading Crypto Platforms.

Leading Crypto Platform’s primary challenge is providing a smooth Know Your Customer (KYC) experience. These are the following challenges the company was facing before the integration of Surepass solutions:

• High Drop-Off Rates: Users abandoned the onboarding process due to cumbersome document verification procedures.
• Delays in Verification: Multiple verification steps and slow review process steps caused prolonged wait times.
• Fraud and Compliance Risk: KYC Compliance and preventing fraudulent accounts were a pressing concern.
• User Frustration: Rejected applications due to data mismatches led to poor user experience.

Surepass’s ID Verification APIs Solutions

To solve the issues, Surepass offered a perfect set of solutions according to the issue, such as:

• Phone Verification API: It verifies the registered mobile numbers in real-time. It makes user verification easier and more accurate.
• PAN Verification API: The PAN verification API adds instant validation of PAN details and ensures accuracy.
• Aadhaar Verification API: Aadhaar verification API for checking the legitimacy of the Aadhaar card. It reduces the need for manual review and associated errors.
• Bank Account Verification API: The bank account verification API for verifying the validity of the bank account of the user.
• UPI Verification API: This API confirms that the given UPI ID is genuine and prevents the risk of fraud. The real time verification enables efficient verification.
• OCR:  We offered several OCR solutions to the business. It technically removed the need for manual data entry and related errors.

Implementation and Results to Prevent the Drop-off

After the integration of Surepass Solutions, the Leading Crypto Platforms saw remarkable improvements:

• 60% Reduction in Drop-Offs – After the implementation of the APIs, the platform has seen a significant reduction in the time spent on verification.
• Enhance Customer Experience: Instant verification eliminates the need for unnecessary steps and delays. Our APIs have created a smooth onboarding journey for customers.
• Higher Conversion Rates: More users have completed registrations, which has improved the conversion rates.
• Fraud Prevention: Accurate verification has reduced the chances of fraud with the quick detection of fraudulent accounts.

Conclusion

After using the Surepass Comprehensive suite of APIs, the Leading Crypto Platform has transformed its onboarding experience. It has seen significant customer drop-off rates. Our APIs have improved the efficiency of the user onboarding process, along with the Accuracy of the verification.

Apart from the leading Crypto, Surepass has helped many other businesses with high-end API solutions and products. You can also boost your operations with the customized solutions by connecting with Surepass.