How AuthBridge helped in reducing CapEX related risk for a bike ride major in India
- Risk of theft or damage to bikes from customers
- Risk of theft or damage to bikes from fleet-on-street entrepreneurs
- Ensuring a frictionless onboarding journey for users and fleet-on-street employees
Additionally, our client also needed an onboarding process for their 3500+ fleet-on-street entrepreneurs responsible for maintaining bikes for our clients, providing emergency response to stranded users of our client and worked with them on commission basis. The process had factor in imminent risks of bringing these off-roll employees in contact with our client’s users.
So, when our client, a bike sharing rental startup, offering first and last mile connectivity to metro users, approached us, we knew exactly what they needed. What they needed was a way to reduce damages to their vehicles and minimise the chances of them getting stolen while they get exchanged hands of users who would pick and drop them as per their convenience. They needed the process to be as smooth as possible for the end users while reducing CapEX related risks.
For a startup, it’s crucial to make a place in the lives of customers. One of the first steps to do so is to ensure seamless customer onboarding onto its platform and provide uninterrupted access to its products/services. As simple as it may sound, it often requires a startup to expose itself to unwarranted risks in the pursuit of reducing friction in the onboarding journey of its customers.
- Identity Verification for users and employees
- Address Verification for users and employees
- Criminal Record checks for employees
- Bank Account verification for employees
- Verifying the identity of the user
- Verifying the address of the user
Validating fleet-on-street entrepreneurs
- Authenticating the identity of fleet-on-street employees
- Authenticating the address of the fleet-on-street employees
- Validating the criminal history
- Validating the bank account details
- A faster onboarding process for users and employees
- Reduction in drop out rates for users
- Reduced CapEx related lossess over a period
- Better visibility over the entire onboarding process for our clients
For verification of users
Understanding the risk involved with onboarding a fraudulent customer, we realised that our client needed an end-to-end customer onboarding journey. We deployed our identity verification APIs built on top of technologies like OCR to complete the KYC process for our client’s users. The present address verification was also completed through physical site visits by our field staff.
The Auth Advantage
As an added measure, we suggested that our client lock down a minimum balance from the customer’s wallet against possible damage to vehicles. The suggestion was appreciated and implemented.
For verification of fleet-on-street employees
The onboarding process for these employees was designed by us from the scratch to give our client maximum cushioning against risks to business and users that might emerge from working with fraudulent employees.
We deployed the Identity Verification and Address Verification in the fashion like users. However, additional Criminal Record Verification was performed in case of employees using our proprietary databases. We also performed a Bank Account Check using the PennyDrop method to ensure protection against financial threats.
Our client reported a significant reduction in CapEX-related losses over a period. They also experienced reduction in drop-out rates during sign up and onboarding process.