Titled ‘Smart Business Series’, YouID organised an event to connect business enthusiasts and business elites, helping them gain insights to seamless customer acquisition.
Themed “Acquisition, Growth, and Retention – Leveraging Technology for Customer Success”, the YouID event included Tunji Andrews, co-founder of Awabah, as the keynote speaker, Yemi-Joshua Oladeji, director, sales and marketing at Youverify, Esther Ahaiwe, marketing manager at Youverify, among others.
The Keynote speaker, Tunji Andrews, acknowledged technology as a fantastic means of onboarding customers, providing good opportunities to carry out a lot in acquiring customers.
Although data verification in the acquisition process is highly essential for Awabah, Andrews says the company still requires a one-stop shop for plugging in all the data needed as a business. “Customer verification should be done with one-click,” he said.
“YouID on the other hand is helping customer acquisition happen a lot better,” Andrews further stated.
“I hope we start building businesses based on a brick and mortar system. Proper businesses are built on proper data.”
Building customers can be really slow, but consistency and the drive to ensure proper business growth will get you to and beyond your desired target.
“There is the conversation around our regulators fighting us. I don’t think they are,” Andrews said.
“You need to play by the rules. Let’s build businesses that are built to last, not those built to fluff.”
Micro pension, which started about two years ago, is a pension plan for individuals who do not have a nine to five job. The plan was built for business owners even in the formal sector and the unbanked. Some lack the NIN and other relevant identities.
Awabah penetrates such markets by visiting the locations of such people with NIN officials, so their data can be captured on the spot.
However, the company encounters difficulties such as delays and extended conversations. This is where YouID comes in.
“The goal of YouID is to reduce customer acquisition timeline,” Oladeji said.
“The key here is innovation, not just technology. Technology amplifies the solutions.”
Oladeji emphasized that the key component is how to innovatively acquire customers in a way that balances the trust factor.
“Your customers can trust you and you can also trust your customers to do what is right and acquire them in a way that protects you as a business and also protects the people in the front line of the business.”
Trust issues are inevitable for most businesses. “Are these customers whom they claim to be? Can they actually leverage what you provide to them? This is where customer verification is highly essential,” Oladeji said.
Filling account forms, registration forms, among other kinds of forms that take a whole lot of unnecessary time, can be really difficult and frustrating for customers.
“When you look at how the NIN registration, which was marked compulsory by CBN, has made customer information accessible, you will applaud CBN, ” he pointed out.
YouID does not aggregate information but helps its users access their own information at any time. All businesses and individuals need to do is recreate their form and encrypt it into a QR code that can be placed anywhere the owners want it. As soon as the code is scanned, the information required is requested for and transmitted immediately with an email sent.
YouID is focused on ensuring data acquisition in the most secure way possible while upholding trust. The platform currently supports six major government ID points including the NIN, BVN, voters’ card, pension number, birth certificates and school certificates.
The YouID application was developed by technology firm, Youverify. It is a secure digital ID wallet that allows individuals to safely store personal details in an encrypted format.
According to the company, individuals can use the app to access online services securely without having to fill a KYC form.
Asides its secure digital wallet for the storage of personal information, YouID speedily notifies users of password breach or leaked credentials by a third-party, if any.
The company’s proprietary machine-learning algorithm computes your CredenceScore based on the level of confidence it has in your data without exposing or accessing your personal data.