Verifying identities for Generation Z is no easy task. Gen Z consumers often don’t have a significant credit history, lack a clear digital footprint, and dislike friction in digital processes. However, verifying identities for Gen Z is now a necessity, as they make up about 20.9% of the population and represent about 27% of the world’s income.
This presents a huge problem for all institutions, but the public sector in particular has encountered big problems when it comes to reaching Gen Z residents. From registering to vote to getting driver’s licenses, Gen Z is well behind other generations when it comes to interacting with public services. However, given the friction and ineffectiveness present at online portals offered by government agencies, it’s hard to blame them. It’s not fair that Gen Z is “missing” from legacy digital identity verification solutions that are not capable of verifying identities.
“We know that attracting Gen Z consumers, in particular, are key to longevity and growth…Yet ironically, they are the hardest to identify and will abandon an app the moment friction is applied, which is traditionally used to deter fraud,” Socure CEO Johnny Ayers said.
The onboarding and identity verification process for Gen Z has to be better for the public sector. Socure is the best solution available for identity verification, and we prove it through our industry-best approval rate of 93% for 18-25 year old users. We can identify more than 70% of 18-year-olds when they first arrive to open an account, which is 30% better than any competitor. This capability ensures that Gen Z has equitable access to government services.
These improvements have huge real-world benefits for government agencies.
- Reduce the need for manual review: Government agencies spend billions of dollars on call centers and in-person options for residents who need manual reviews. It’s simple: if fewer legitimate Gen Z residents are denied, the government won’t need to spend as much.
- Improve customer experience: Right now, the customer experience for government agencies is sorely lagging. Satisfaction in government services runs well behind most private sector services, with the federal government rating worst of all. Better customer experience also reduces negative media coverage and perception.
- Give residents access to digital channels: A recent McKinsey report found that 60% of residents prefer digital channels, but 80% needed to switch between channels during their interactions with government agencies. That is not sustainable for Gen Z, a population that uses digital devices more than any other.
Socure’s identity verification and fraud risk management solution is perfect for addressing these problems. With frictionless onboarding, high accuracy and coverage, and advanced fraud prevention, Socure can serve as the identity verification layer for local, state, and federal agencies.
Socure also leads in the much harder-to-verify 13-to-17-year-old group. As more proposed legislation setting 13 as a national minimum age for social media is introduced, we can help state agencies set identity verification standards and verify those hard-to-reach age groups. We also have industry-leading pass rates for recent immigrants, women, and low-income individuals.
We identify as the best, but we don’t want you to take our word for it. Socure can outperform your legacy identity provider in a head-to-head test.
Socure is the leading platform for digital identity verification and trust. Its predictive analytics platform applies artificial intelligence and machine learning techniques with trusted online/offline data intelligence from email, phone, address, IP, device, velocity, and the broader internet to verify identities in real time.
How To Ensure Your Organization Can Onboard Gen...
Much has been written about Millennials, born between 1981-1995, as the...
What is eCBSV, and How Does Socure’s New...
In our digital-first world, it’s all about improving customer approval rates...