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We've Accumulated Resources to Help You Deal With Fraud

Fraud costs don’t start in your finance department. They start in your IVR, online, and occur inside and outside of your contact center. While you are aware of the media reported mega-breaches that plague companies and consumers both, have you considered your contact center’s place in the journey from data capture to fraudulent transaction and account takeover? Read more resources here.

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What’s in the report...

Contact Center Authentication:

of U.S. adults have been victims of some form of identity theft through application fraud or account takeover.

47%

A Mystery Shopper’s Journey

ANALYST REPORT

ANALYST REPORT

What is good authentication? How do I gain more confidence in my caller’s identity? Is there a fraudster lurking in my call center? How can I deliver a superior call experience by enhancing the way I authenticate my customers? 

These are only some of the questions contact centers are grappling with. At the very core is the desire to provide excellent customer experience but not at the expense of opening doors to fraudsters. 

Aite set out on a mystery shopping journey to find the answers to these questions. They placed several mystery calls into financial institutions’ call centers and tested multiple use cases. They made keen observations about how each call center responded to their queries, how they felt after each call and whether or not their goals were accomplished. They tested various scenarios to gauge the call centers’ authentication methods and their approach to consumer experience. What they found was eye-opening. 

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Download the Report

Our mission is to provide security, identity and trust on every voice interaction

More Effective use of IVRs: Having the ability to consistently authenticate callers and identify a potential fraudster can enable FIs to offer more products and services either through the IVR or through contact center agents.

KBAs on the Decline: The use of KBA is decreasing in recent years in many financial services firms because the questions are so easily defeated by dedicated fraudsters; 54% of FIs have decreased usage to varying degrees.
Burden on Callers: Some FIs require a great deal of data to be entered to authenticate callers. With many callers using small mobile devices, it can be difficult to enter lengthy account numbers or other data without making an error.

Need for more Security: FIs cannot afford to offer products and services via the contact center without consistently reliable authentication processes in place. In the past two years, 47% of U.S. adults have been victims of some form of identity theft through application fraud or account takeover.

Our mission is to provide security, identity and trust on every voice interaction.