Location, location, location.
For brick-and-mortar companies, location plays a big role in the success of their business. For example, when a storefront is centrally located and is easily accessible, customers tend to frequent there more often.
This may not be groundbreaking news to anyone, but did you know location can also be a key factor for determining bank fraud or high-risk calls over the telephone channel?
In this case, we’re talking about the physical location of the calling device. When call centers know in real-time where the inbound call is coming from, it can change everything. This information can play a powerful role of determining the risk of each call, and whether or not it can or cannot be trusted. So, although a Caller ID or ANI may say one thing to fool a telephone agent, the actual location of the device may tell another story.
If the location is in contrast with details you have on a particular customer, it can increase the level of risk to your call center operations and customers’ sensitive data. But while verifying the geographic location of where the call originated is important, doing so after the fact can undermine the information, itself. Here’s why.
By the time your call center agents are talking to someone on the other end of the line, the location data is no longer valid. What I mean by this is the authentication process then becomes an interrogation process, which relies on what the caller knows. If the caller can correctly answer the series of security questions that phone representatives are trained and scripted to ask, then anyone with the right information can slip past knowledge-based-authentication (KBA) methods. As you can see, this is where call centers that use KBA to authenticate customers over the phone can be vulnerable.
But if you can identify risk earlier in the authentication process, your call center can make quicker decisions that can curb fraudulent and other high-risk calls. And the best part is, you won’t have to spend more than you need to on unnecessary identification procedures.
The TRUSTID® Physical Caller Authentication solution confirms the authenticity of the call before impostors have the opportunity to socially engineer call center agents. Before the inbound call is picked up, TRUSTID’s patented telephone network forensics automatically validates the exact location of the mobile phone or landline that made the call. By invisibly identifying the caller’s location in real-time, the spoofed call can be denied before the impostor is allowed to get through to an agent.
Therefore, by authenticating both good and bad calls earlier in the process (or what we like to refer to as “pre-call”), banks and businesses can better serve good customers faster, and at the same time, remove bad ones without wasting unnecessary operating and labor costs on calls that are automatically identified as high-risk or fraudulent.