Inc42 and Onfido, a technology company offering identity verification solutions, recently held a roundtable discussion on the Guide To Master The Art Of Balancing Customer Experience & Data Security For Your B2C Business and deep-dived into many critical areas such as:
- Building a B2C brand in India: The impact of a secure and personalised customer experience (CX)
- Creating a balance between customer experience and securing their data
- Scaling In India’s B2C Market: The role of security, data localisation, data-led insights and customer experience
- Going global: The threats and opportunities to avoid and tap into
Moderated by Urvashi Gupta, general manager (APAC) at Onfido, the discussion included Abhay Aggarwal, founder and CEO of Colexion; Edul Patel, CEO and cofounder of Mudrex; Rahul Kumar, senior director of engineering at Teachmint, and Rohit Tuteja, director of product at upGrad.
Why Customer Security And Experience Go Hand In Hand
The past two years have witnessed a tectonic shift in consumer behaviour. With increasing dependence on digital technology, a customer’s journey begins from login via a desktop/laptop/mobile interface. It is also their first interaction with any company. As more online transactions take place, people want to establish these communication touchpoints easily and quickly from their respective locations.
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While ensuring a seamless consumer experience, companies need to consider foolproof customer security and its timely implementation. Businesses often want to onboard users fast, but they should simultaneously set up essential security measures to prevent frauds from entering the system. Therefore, striking a reasonable balance between customer security and customer experience is critical for creating better business opportunities and enhancing credibility.
According to a Zendesk report, 73% of Indian companies have a three-year strategic plan for customer service. The report also states that nearly half of the Indian firms, 46% to be precise, view customer experience as a revenue-generating engine for growth. But to lead the pack in sync with this techade, companies should focus on rapid digitalisation, a robust online presence and data privacy concerns.
From signup to setting up future touchpoints in a customer’s journey to customer data security, tune in to this panel discussion to know what matters most and work well as companies build successful B2C platforms in India.