How would you measure the success of Incode's biometric onboarding solution?

Introduction

Measuring the success of Incode's biometric onboarding solution requires a comprehensive approach that considers multiple stakeholders and metrics. To effectively evaluate this product, I'll follow a structured framework covering core metrics, supporting indicators, and risk factors while considering all key stakeholders.

Step 1

Product Context

Incode's biometric onboarding solution is a digital identity verification platform that uses facial recognition and other biometric data to streamline user onboarding processes for businesses. Key stakeholders include:

1. End-users: Seeking a quick, secure onboarding experience
2. Business clients: Looking to reduce fraud, improve conversion rates, and meet regulatory requirements
3. Incode: Aiming to grow market share and revenue
4. Regulators: Ensuring compliance with data protection and KYC regulations

The user flow typically involves:

1. Capturing a selfie and ID document
2. Performing liveness checks
3. Extracting and verifying ID information
4. Matching the selfie to the ID photo
5. Returning a verification result to the business client

This solution fits into Incode's broader strategy of providing secure, frictionless identity verification across various industries. Compared to competitors like Onfido or Jumio, Incode emphasizes its fully automated approach and advanced AI capabilities.

The product is in the growth stage, with established market presence but significant room for expansion and feature enhancement.