Ready or not, the holidays have arrived.
For businesses, this means more consumers will be shopping for that perfect gift. For banks, it means keeping up with all those holiday transactions, which is no small feat.
With more requests and transactions coming their way, financial institutions need to do what they can to make sure everything goes smoothly and securely on all customer channels. Because, along with more good customers comes the possibility of more fraud attempts.
Handling more inbound calls — whether good or bad — is a challenge for most call centers this time of year. Doing this successfully, while stopping fraud threats in their tracks, is critical to getting through the holidays without losing bottom line profits.
To avoid the impact of inadequate customer service and phone fraud, banks need a way to answer calls and resolve issues safely, and in a timely fashion. They also need to accurately identify high-risk calls that threaten the security of their customers’ sensitive data and their own confidential business information.
Traditional knowledge-based authentication (KBA), a method that requires contact center agents to employ costly, time-consuming telephone interrogations to identify callers, is neither cost prohibitive or predictive for determining identity or risk of customer calls. In my book, it goes against efficient customer service, especially during the high-traffic holiday season.
To handle higher call volumes and reduce the risk of phone fraud, call centers need an authentication tool that validates calls early in the process. Instead of waiting for a representative to pick up and start drilling customers with a bunch of KBA questions, businesses need to understand if a call can be trusted before the conversation takes place.
Utilizing the TRUSTID® Physical Caller Authentication solution, financial institutions can verify the risk of the call while the phone is still ringing. This level of real-time caller authentication allows businesses to identify spoofed calls before they reach a phone agent. With this information, businesses can decide in real time if they want to remove the call from the telephone system.
On the flip side, if the call checks out, it can be automatically routed to a contact center representative, who doesn’t have to start interrogating the customer over the phone. Instead, they can begin with a friendly greeting before getting straight to resolving the customer’s issue.
Not only does this provide a more secure environment for your customers, but shaving precious seconds off each phone call allows your agents to answer and resolve more calls while building stronger customer loyalty through exceptional service.
That’s something we can all use over the busy holidays.