Why it’s important to authenticate every customer call

Posted on: August 27th, 2015 by Art Barger

For banks, every customer has a value. That amount may vary based on the products and services they use, but financial institutions understand that each customer adds to their annual bottom line. So, when banks lose customers, it comes straight out of their profits.

Today, we know that poor customer service is one of the biggest reasons why customers switch banks. Knowing this, it would behoove banking institutions to ensure they deliver the best customer experience every time they interact with their customers.

Studies continue to show the value of each banking customer, and how it’s more cost-effective for financial institutions to retain and up-sell customers than it is to recruit new ones. I cannot overstate how much customer loyalty means to a bank’s long-term  success.

If a poor banking experience is the antithesis of customer retention, then one of the best ways to retain customers is to keep them satisfied with your service. Each time your customers reach out to you — no matter what channel — consistently achieving a high level of exceptional customer service is key to keeping them happy. In the call center, this means making sure each inbound call is quickly routed to the appropriate operator and your customers are promptly greeted and served by friendly telephone agents.

With ever-increasing call volumes, a daily challenge for today’s call centers is authenticating every inbound call. Some may ask if it’s possible to validate every call coming into your contact center. My answer to that is it’s not only possible, it’s essential to your business success.

At TRUSTID, we believe every customer call is important. Any caller that slips through the identification process can represent a potential risk to your customers and your business. That’s why we designed the TRUSTID® Physical Caller Authentication tool automatically authenticate callers while the phone is still ringing. When customers are instantly identified before the phone is picked up (or pre-call), it changes the entire telephone banking experience. For example, there’s no need to interrogate callers with a bunch of frustrating security questions and your customers’ problems are resolved faster.

Nothing is more satisfying to today’s on-the-go consumers than respecting their time and feeling confident that their issues will be quickly resolved over a single phone call. Only automatic authentication can provide that. By removing the reliance of more traditional customer identification methods like knowledge-based authentication (KBA), TRUSTID allows banks to validate every call coming into the call center without interrupting the identification process.

The ability to instantly and invisibly validate higher call volumes helps contact centers on multiple fronts. By removing unnecessary operating procedures and costs, financial institutions can create a safer, more efficient telephone environment that meets the growing demands and expectations of their valued customers.