According to Pindrop® Labs, one out of every 491 calls to a retail call center is fraud. Yet, many anti-fraud and authentication solutions just aren’t up to the task of fending off aggressive fraudsters.
PASS THE GOOD GUYS & FAIL THE BAD GUYS QUICKLY & EFFICIENTLY
Fraudsters love exploiting retail with card-not-present (CNP) fraud, account takeovers, cross-channel attacks, and reshipping fraud. These incidents accrue and hit retailers hard with costly repercussions, such as chargebacks and high rates of theft for fencible goods.
Relying only on outdated security solutions makes retail call center the weakest security link
Increasing Fraud Rate
Pindrop® Labs found a 79% increase in retail fraud rates between 2014 and 2016
Poor Customer Experience & Loyalty
Excessive time authenticating legitimate customers reduces loyalty
IN 2014, PINDROP® LABS FOUND THAT ONE IN 1,000 CALLS INTO A RETAIL CALL CENTER WAS FRAUDULENT. ONLY TWO YEARS LATER, THAT NUMBER HAS JUMPED TO ONE IN 491.
— Pindrop® Labs 2017 Fraud Report
HOW PINDROP® PROTECTS RETAIL
Pindrop® anti-fraud and authentication solutions help retail call centers reduce chargebacks, improve customer experience, lower operational costs, and avoid devastating data breaches.
Pindrop® solutions help call centers detect suspicious callers most likely to commit card-not-present (CNP) fraud before they can make a purchase leading to a chargeback.
IMPROVE CUSTOMER EXPERIENCE
Pindrop solutions help call centers reduce time spent on authentication processes that frustrate legitimate customers. By letting agents get straight to helping the customer, call centers improve the customer experience.
REDUCE CALL HANDLE TIME
By streamlining authentication processes according to risk, Pindrop solutions help retailer call centers reduce the average handle time for low-risk callers. Reducing AHT — even by seconds — helps reduce operational costs.
PROTECT CUSTOMER ACCOUNTS
Pindrop retail call center solutions help prevent fraudsters from gaining access to customer accounts, stealing credit card information or placing fraudulent orders. By identifying these callers during their early reconnaissance phase, Pindrop solutions help prevent attacks and preserve brand reputation.