Vector 1: More effective fraud detectionPindrop improved fraud detection rates by 15% over and above existing tools and systems used by customers. Pindrop’s multifactor approach and analytic capabilities led to over $5 Million in fraud loss prevention and an increased ability to see when a fraudster is coming into multiple lines of business at the same time.
Vector 2: Streamlined authentication
Customers leveraged our automatic number identification (ANI) validation, voice biometrics, and caller analytics to remove two knowledge based questions (KBAs) and lower average handle time (AHT) by as much as 90 seconds for customer interactions. They saved $6.8 Million and were able to personalize call experience for their callers.
Vector 3: Increased self-servicePindrop’s risk scores and ANI validation allowed customers to trust the verified callers and opened the door for self-service more securely within the interactive voice response (IVR) system. Contact centers were able to contain an additional 1.5% calls within the IVR system in the first year itself leading to $6 Million in cost savings.
Vector 4: Improved security operations effectiveness
Pindrop’s case management tool helped fraud investigators to fine-tune their fraud alerts, work cases faster and to reduce fraud investigation time by up to 25%. These gains contributed to savings of more than $200,000.
In the words of one of our customers,
“It’s better for our customers, better for our agents. It is certainly saving us money on fraud, and it does allow us to adjust faster to new trends and be able to capture them.”
– VP of Authentication and Identity Technology, Banking.
If you are thinking of ways to keep your contact center secure, to delight your customers, and make your call center agents more productive, the Forrester TEI study is a must read.
Download the study to discover how advanced authentication and fraud detection leads to a stronger bottom line.