Empower builds a modern banking experience with automated account recovery
Putting their Customers First
Empower's mission is to reimagine financial services by bringing the best financial tools and products to their customers. Their mobile-first personal finance app offers mobile banking accounts with competitive rewards and a smart financial assistant.
Empower considers the privacy and security of its customers' accounts to be of the highest priority. To protect their customers' sensitive information, it was important to have a secure process in place whenever a customer tried to recover their account. Empower also recognized that traditional knowledge-based authentication (KBA) is no longer a reliable approach for identity verification given major data breaches like Equifax, and looked for a more secure solution.
Prior to partnering with Persona, Empower customers who were locked out of their accounts and did not have their phone on hand were required to e-mail their personal information to the Empower team for manual review. This was an incredibly cumbersome and manual account recovery process for both parties. Empower — with their focus on the customer experience — knew they needed to find a better solution.
Partnering with Persona
After evaluating various identity verification solutions, Empower ultimately partnered with Persona to automate their secure account recovery process.
Empower selected Persona for the following key reasons:
1. Data Security with a Fully Automated Solution
Unlike many other solutions, Persona's identity verification solution is fully automated, limiting access to customer data and keeping it within Empower's organization.
2. A Speedy and Seamless Account Recovery Process
Persona's platform allowed new customers to complete their identity verification quickly — via web or mobile— and obtain their results instantaneously, instead of waiting hours or days, providing a quick and seamless account recovery experience.
3. No Engineering Resources Required
With Persona's hosted identity verification flow, Empower was able to get up and running without any involvement from engineering or design, freeing up valuable resources they directed towards their core business. At the same time, Empower could fully customize Persona's user interface with their brand.
Empower was able to get up and running with Persona in just a few days.
- Empower has been able to fully automate their secure account recovery process, reducing the need for manual process and increasing the speed of account recovery.
- Empower was able to create and customize a highly secure verification flow that combines government-ID authentication with live video selfie analysis.