Is your authentication process damaging the goodwill of your customers?

Posted on: February 19th, 2015 by Art Barger

Want to engage your customers and keep them coming back? Who doesn’t, right? The answer is quite simple — don’t put them through unnecessary authentication processes that prolong answers to their pressing questions.

When your banking customers call your contact center, they’re looking for answers. The reason they’re phoning in is they know talking with a live agent will provide the confidence they need to resolve their issues.

When it comes to providing customer service, this practice hasn’t changed much over time. Despite all the new ways customers can communicate with their bank, the telephone channel remains the most consistently used channel available. Customers know that they can get direct answers and transaction confirmations from trained professionals. The biggest challenge for contact centers is not letting the customer authentication process get in the way of delivering exceptional service that meets today’s increasing customer demands.

The reason why so many customer channels exists today is because every customer has their own personal preference for banking. These preferences also bring with them higher customer expectations, which include convenience, speed and security. All of these pieces make up the overall customer experience.

While customer demands are always changing, contact centers need to adapt in order to stay on top of how they can deliver the best banking experience possible. As a moving target, this isn’t easy. But it is imperative to keeping your customers happy, and ultimately, coming back.

One area that many banks have been slow to change is how they authenticate customers over the telephone. Many still rely solely on knowledge-based authentication (KBA) solutions to identify customers. By asking callers a bunch of security questions, they’re adding seconds, or even minutes, between the time they pick up to when they start to address the caller’s needs. Telephone interrogations in no way, shape or form help resolve issues faster, or improve customer relationships. If anything, it frustrates good callers from getting to their issues.

The best way to improve the efficiency and security of your telephone experience is to automate the authentication process. Instead of having your agents bombard your customers with challenge questions that may not even determine whether the call can or cannot be trusted, TRUSTID’s telephone network forensics don’t rely on lengthy telephone interrogations to determine the authenticity of the call. That process is automatically and invisibly done for you while the phone is still ringing.

With the TRUSTID® Physical Caller Authentication solution, banks and businesses know before every call is picked up if it is coming from a legitimate customer or if it is spoofed. Getting this information in real-time can be a game changer when it comes to stopping fraud and improving your customer experience. By eliminating costly seconds — or minutes — on each inbound call, you reduce labor expenses by 20 percent and remove all known spoofed calls from your telephone system. With highly intrusive security questions removed from your authentication process, you can start to build better relationships and goodwill with your good customers through faster and more engaging personal service.