Without the ability to verify the Caller ID or ANI, all customer calls can look the same to call center agents. This a risky proposition for any financial institution that handles thousands of customer calls each day. In other words, if all calls appear the same there’s no way to answer some of the key questions all banks should know about customer calls, such as:
- Which calls are trustworthy?
- Which calls require further review?
- Which calls require a contact center agent?
- How can I better serve my customers?
- How can I lower my authentication costs?
To improve the overall security and efficiency of the telephone channel, banking institutions need to be able to confidently identify which customer calls are trustworthy and which ones pose a risk. To be frank, any bank operating without a two-factor authentication strategy to verify callers is putting its entire enterprise, private business information and customers at risk.
With criminals potentially at every customer touch, combining multiple authentication methods is not only a federal requirement for fighting fraud, it’s a must in today’s banking environment.
Over the past few years, financial institutions have put a lot of resources into securing the online channel. According to some studies, these efforts have worked as the number of successful fraud attempts against banks have dropped. But this hasn’t stopped criminals from migrating to other, less protected banking channels like the telephone. This is where TRUSTID can help.
Our TRUSTID® Physical Caller Authentication tool is a proven network-based authentication solution that helps financial institutions proactively validate the Caller ID and ANI to secure the telephone channel, as well as reduce costs by spending less time interrogating customers and more time providing quality service over the phone. As a result of including a complementary, real-time authentication tool like TRUSTID to a bank’s anti-fraud arsenal, we help improve the overall customer experience and achieve true multi-factor authentication to protect one of the most highly used and targeted customer channels in the banking industry.