In a significant move for small businesses, DocuSign and CLEAR have unveiled a groundbreaking identity verification solution designed to enhance the security and efficiency of digital agreements. This partnership promises to alleviate the frustrations that arise from balancing security and customer experience, a challenge many business owners face today.
The integration merges DocuSign’s industry-leading Intelligent Agreement Management platform with CLEAR’s biometric verification technology. With identity fraud on the rise, largely fueled by generative AI, small business owners are acutely aware of the financial risks involved. Gartner predicts that by 2028, up to 25% of candidate profiles may be fake, amplifying the need for robust identity verification processes.
“Together with CLEAR, DocuSign is leading the way in ensuring that businesses don’t have to choose between security and a seamless customer experience,” said Allan Thygesen, CEO of DocuSign. This sentiment echoes the challenges small businesses often face: the constant pressure to protect sensitive information while also ensuring a user-friendly transaction process.
The partnership is particularly promising for small business owners looking for solutions that not only safeguard against identity fraud but also streamline operations. With the increased complexities in the digital landscape, the ability to quickly and securely verify identity directly within a DocuSign agreement enhances workflows dramatically. CLEAR members can verify identity with a simple selfie, whereas new users can create an account in under 90 seconds—all without leaving the DocuSign environment.
Caryn Seidman Becker, CEO of CLEAR, emphasized the importance of trust in the digital age, stating, “Identity is the foundation of trust, and CLEAR ensures total identity integrity and frictionless experiences.” For small businesses, implementing this solution could translate into more secure transactions, thus fostering customer loyalty and confidence.
However, the introduction of this technology does come with challenges. According to a Docusign report, 66% of businesses believe that fraud prevention and customer experience are at odds. Additionally, 58% are concerned that stronger fraud prevention measures could deter customers. Striking the right balance will be essential as small businesses navigate these waters.
One potential solution that DocuSign is implementing is Risk-Based Verification. This method tailors the identity verification process according to the risk profile of the user, allowing low-risk individuals to move through verification quickly, while applying additional checks for those deemed higher risk. This dynamic approach not only enhances security but also aims to maintain a smooth user experience—vital for retaining customers in a competitive market.
From a practical standpoint, the new solution is particularly relevant for sectors where digital agreements are prevalent, such as real estate, finance, and e-commerce. The cost of identity fraud can be staggering, often amounting to millions annually for businesses that suffer breaches or fraud. On average, organizations that have invested in advanced verification solutions report savings of about $8 million by mitigating fraud risk.
With over 33 million members using CLEAR’s platform and the streamlined verification experience, small businesses may find this partnership a crucial tool in their arsenal. As more companies move towards digital workflows, the ability to authenticate identities swiftly and securely will likely become a primary differentiator in the marketplace.
As businesses look to the future, the implications of this partnership extend beyond mere operational convenience. The collaboration between DocuSign and CLEAR may set a new standard for identity verification in digital transactions, making it easier for small businesses to manage customer relationships securely.
For more details about the new identity verification solution from DocuSign in partnership with CLEAR, you can visit the original press release here. With the rise in identity fraud, now may be the perfect time for small business owners to examine their verification processes and consider adopting these new advancements to bolster both security and customer satisfaction.
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