How authentication technology helps banks meet customer demands

Posted on: June 12th, 2013 by Art Barger

Meeting today’s banking demands requires financial institutions to increase efficiency, enhance security and provide exceptional customer service. This is no easy task for banks dealing with an increasing number of customer calls and more sophisticated security challenges around every corner.

The recent Bank Systems & Technology article, “Security, Efficiency, Service: Communications and the Banking Industry,” discusses how integrating telephony technologies into call centers can help improve the overall banking experience. Banks by and large are in the customer service business. As they work on improving efficiency while cracking down on fraud losses, it’s critical that they stay one step ahead of the curve in their customer service technology implementations.

When it comes to the telephone channel, meeting customer demands and lowering their frustrations hinge on how fast bank agents can address a caller’s needs and resolve their issues in a timely manner. While CTI and IVR platforms can help speed up these processes, the ability to authenticate callers before the phone is answered eliminates the need for lengthy telephone interrogations to improve the overall customer experience.

Using real-time telephony network forensics to validate the authenticity of all incoming calls before they are answered, the TRUSTID® Physical Caller Authentication solution returns Caller ID and ANI credentials to subscribing banks within seconds, giving them the information they need to quickly route calls based on risk. By leveraging TRUSTID, call center agents answer the phone with more knowledge and confidence so they can begin servicing the customer’s needs right off the bat.

With TRUSTID, customers don’t need to answer a bunch of security questions to be identified over the phone. Their call has already been validated without any interruption to the banking process. As a result, the moment they start interacting with a contact center agent their issues are being addressed and are one step closer to being resolved. And with a higher volume of calls coming their way, streamlining the process without impacting the banking experience is essential to meeting today’s customer demands.