The introduction of advanced biometric authentication technology has enabled large companies such as banks, insurance providers and credit card companies to provide a robust verification process that is easy to use while ensuring the highest protection of customer data.
The Ease of Identity Fraud
Standard authentication methods are no longer sufficient at preventing call center fraud.
There are two challenges that undermine the authentication measures used by most organizations. Firstly, the challenge for customers to remember and supply the correct password from an ever-growing list of usernames and passwords. Secondly, when the password isn’t supplied, the answers to the validating questions can be easily mined by criminals intending to commit identity fraud. Personally identifying information, such as a mother’s maiden name, date of birth and the last four digits of a credit card, can be easily gleaned from public domains, where a bit of social engineering will give a perpetrator the information they need within minutes.
Companies with large data centers spend millions of dollars ensuring that they meet regulatory requirements that protect the privacy and information that is held on their individual clients, yet, fraudulent access to a customer account remains to be fairly rudimentary. When contacting a bank, insurance or investment fund, all a person needs to supply is basic personal information of the account holder. And with a wealth of information available freely on the Internet, the job of fraudsters is made incredibly easy. Once authenticated the fraudster is able to complete almost any type of transaction; from approving a questionable transaction to transferring money into an external account.
Incorporating Smartphone Features
CallVU’s advanced biometric authentication solution helps call centers to secure and simplify the customer authentication process. By ensuring the highest security standards are maintained, CallVU’s digital solution instantly verifies callers using sensory perceptions that are picked up via the customer’s smartphone. This ability to automatically collect customer identifying data via the smartphone, greatly advances call center customer authentication processes, before they even reach an agent
CallVU’s methods for advanced biometric authentication include fingerprint, voice and face recognition, all of which are collected via customer interaction with their smartphone whilst being highly resistant to fraud. According to Ori Faran, Founder, and CEO of CallVU, “Our solution provides customers with the service they need quickly via a wide range of self-service options that eliminate the need to wait on the line for an agent. By adding our biometric solution to a company’s offerings, financial customers can enjoy dramatically simplified access to advanced digital services while ensuring the integrity of their data security”.
Companies adopting CallVU’s advanced biometric authentication solution provide their millions of customer with multiple benefits:
- Fast and simple access to advanced self-service options
- No longer need to remember passwords
- No longer need to constantly change passwords
- Entirely avoid the need to speak with an operator in order to be verified
For companies as well, there are multiple benefits:
- The biometric authentication solution is highly adaptable
- The solution does not require any business process transformation
- Authentication does not occupy additional agent time
- Efficiently and adequately meet the strictest privacy and security regulation requirements
- Authentication solution lends itself to more accurate call routing
Adding to the flexibility of the solution, companies have the option of choosing the type of biometric information that they would like to collect, whether that be fingerprint, facial, voice or a combination of these.
Security and ease-of-use were the two primary design objectives, therefore CallVU’s verification solution can be implemented both in advance and during a live call with an agent. Once integrated with CallVU’s collaboration and content sharing module, intelligent agent-caller interaction tools enable callers to use their smartphone to authenticate from a range of options, be it a selfie photo, fingerprint or voice. All of these methods are facilitated with the same ease as if the customer were standing in an actual branch. Service providers may select to have this feature a second tier mandatory authentication requirement.
Taking advantage of what is already at their customer’s disposal, CallVU’s advanced biometric authentication solution utilizes smartphone features to identify callers. This effective and efficient customer verification tool transforms authentication into a seamless process with a dramatic reduction in cost and vast improvements to ensuring the security of customer accounts.