When consumers must undergo a lengthy setup process to set up an account, you risk losing them as customers. Inputting a host of information, creating passwords … it all adds up to frustration and failed attempts to create and log into accounts. It’s not only irritating to those trying to create an account; it can be detrimental to businesses.
Digital logins have become the source of lost revenue and trust. In fact, 58 percent of users who download an app never complete an account registration. Even worse, 86 percent of users who land on a mobile site leave without completing a transaction. Typical registration of a new mobile account requires users to jump through a series of hoops from creating a new login to answering SMS or email verification processes, causing frustration and abandonment.
Thankfully, there is a solution. Recently released, Averon MagicLogin helps brands increase conversion rates and user engagement by enabling consumers to create new accounts, log in to existing accounts, and securely link information by using a phone number as the unique account identifier, eliminating the need for passwords and lengthy registration processes.
A one-tap process on a user’s mobile phone lets users automatically log in to existing accounts, create new accounts, and link an existing account to the MagicLogin solution b
“What we are introducing today gives consumers the power to create a connected online identity through frictionless mobile access,” says Wendell Brown, chief executive officer of Averon. “While consumers see the benefit of a streamlined account experience, businesses see an increase in customer sign-ups, conversion rates, and penetration of mobile numbers tied to accounts—all while protecting privacy.”
Averon’s MagicLogin solution was introduced at the Gartner Identity and Access Management Summit 2018 in Las Vegas. At the Summit Brown highlighted how businesses can securely eliminate logins and boost conversions through instant, seamless authentication plugs.