There are a number of post-call authentication solutions in the market today. They are tools that help call centers determine the risk of the call after it has been answered. Once the phone is picked up, customers are either greeted by phone prompts or a live contact center agent, who begins their version of 20 questions. We all know the drill, right?
This process can easily eat up the first couple of minutes of the conversation. Unfortunately, the customer, who called in to take care of a specific issue, is suddenly required to answer a series of challenge questions. Depending on the question, it can be much like taking a surprise quiz. This type of distraction can impact the goodwill of customers, especially if they’re longtime patrons of a bank or organization.
Using post-call knowledge-based authentication (KBA) solutions to identify customers over the telephone channel no longer provides the efficiency, predictability or reliability they once did. Why? There’s too much personally identifiable information (PII) accessible on social networking websites to use against knowledge-based methods. And with call volumes exploding year after year, the longer contact center reps have to interrogate customers, the more it will cost businesses and impact the overall user experience.
This is why the value of post-call authentication has dwindled so significantly in recent years. Identifying customers after the phone is answered is slow, risky, drives up operating costs and damages the bank-customer relationship. The only caller authentication tool out there today helping banks and other companies validate customers pre-call is the TRUSTID® Physical Caller Authentication solution.
Using real-time telephone network forensics to verify the exact physical location of the device being used by the caller, TRUSTID delivers a powerful credential that allows call centers to:
We’re working with financial institutions today that are seeing a 20 percent overall cost takeout of their operations using Physical Call Authentication. When you break that down to the money they’re saving per call — which is roughly 50 cents per call on their gross value number of phone calls — 50 cents on a billion phone calls can save $500 million not just once, but every single year. That’s the extraordinary value that pre-answer authentication.