For many bank contact centers, identifying a caller within 10, 15 or 30 seconds into a conversation is considered a success. Quickly routing a call to the appropriate agent or blocking it once it’s identified as fraudulent or suspicious is always a good thing. But anytime you have to authenticate a call after the phone is answered has a price.
For financial institutions, the price of a few seconds to verify a caller on the phone is valuable time and money. Now multiply those precious few seconds by tens of thousands of calls per month or a millions of calls per year, and the labor and operational expenses quickly add up.
Would if you could skip that interrogation process altogether and get the same results without interrupting the customer experience. How much would that service be worth in yearly operational savings? And how about customer satisfaction?
By eliminating the time spent using knowledge-based authentication (KBA) to interrogate customers over the telephone, banks can shave precious seconds off of every inbound call. This can add up to millions of dollars in annual savings per year, based on the number of calls a contact center receives each year.
Leveraging our real-time telephone network forensics to validate the physical location of the landline or mobile phone before the call is picked up, Using the TRUSTID® Physical Caller Authentication solution, uses Caller ID and ANI credentials to proactively validate all bank customer calls without relying on security questions that increase employee costs and test the customer’s trust and goodwill. All this is done without impacting the customer experience and and is completely undetectable to criminals attempting to socially engineer call center agents.
As a result of removing the phone conversation that KBA solutions require call center representatives to have to determine whether or not the call is trustworthy, financial institutions can improve their call center experience and reduce their average call handling (ACH) times by seconds to save on large operating employee and labor costs.
Tags: ACH, average call handling, call center operations, call center savings, Caller ID verification, Caller identification, KBA, knowledge-based authentication, Physical Caller Authentication, social engineering, telephone network forensics, TrustID