How soon do you identify the level of risk?

Posted on: December 11th, 2014 by Art Barger

Interactive voice response (IVR) systems are designed to provide customers with quick and easy service without talking to a company representative. But before a customer can perform a task, they need to first be authenticated. This often means answering a bunch of personal questions. Such telephone interrogations are not only costly and time-consuming for banks and businesses, they’re anything but convenient or customer-friendly.

With a certain percentage of inbound calls going straight in to the IVR system, the ability to automatically authenticate customers “pre-call” can play a key role in your customer experience. In other words, before customers can perform any number of functions like make a transfer, view their personal records or resolve a problem, they need to first be verified.

Relying on knowledge-based authentication (KBA) methods to identify customers over the telephone channel won’t cut it in today’s contact center environment. There are too many flaws in this costly and non-predictive customer-identification process.

Whether the caller is routed to a call center agent or IVR option for processing, you’re always better off knowing the risk of the call beforehand. Using real-time telephone network forensics, the TRUSTID® Physical Caller Authentication solution let’s businesses know if the call is authentic or spoofed when the phone is still ringing.

Before the call is picked up, the unvalidated phone number is transmitted to TRUSTID, which identifies in seconds the actual physical location of the mobile or landline phone. The company employing TRUSTID receives a Caller ID and ANI credential. Based on the level of risk, the company can automatically choose to route the call to the appropriate IVR option or operator, or drop it from the system altogether, with no interruption to the customer or crook.

At this point, traditional KBA methods are no longer needed. Calls that are identified as spoofed don’t see the light of day, so criminals don’t have the opportunity to socially engineer call center reps. Validated customers continue on through the IVR system, or are transferred to an agent, who is ready to start addressing their needs rather than burden them with security questions.

By proactively authenticating the caller and removing unnecessary identification processes, TRUSTID gives banks the information they need to reduce telephone fraud and start serving customers right away for a better overall customer experience.