Are the same mistakes continuing to plague customer channels?
We spend a lot of time, resources and money fighting fraud. Keeping up with evolving criminal tactics is a top priority for any company. While we’re constantly focused on what the bad guys are up to, what can get lost is how secure our customer channels are at any given time.
The recent article, “Biggest data breaches in 2019: Same mistakes, different year,” highlights some of the most notable hacks of the year. From hotels and healthcare to the banks and bill collectors, 2019 saw record-setting breaches across many different industries. But most of the headlines weren’t about the latest innovative scams that can defeat authentication or anti-fraud tools. Rather, one of the common themes throughout the year was how unsecure hacked databases have become.
One of the ways companies can secure their customer channels and protect their private accounts from the latest fraud attacks is by deploying effective authentication tools that automatically validate good customers and spot suspicious activity early in the identification process.
Solutions such as TRUSTID’s pre-answer caller authentication don’t rely on personal information that can be maliciously used against organizations. By validating callers while the phone is still ringing, TRUSTID allows banks and other companies to make snap decisions on good calls to get them through the process faster, and bad ones, routing them to their fraud and risk teams for further review.
The benefits of not relying on outdated knowledge-based authentication (KBA) solutions, which are vulnerable to social engineering, are two-fold. It allows organizations to spot fraud faster so social engineers don’t get in the door, and improves operational efficiencies by speeding up the problem-resolution process for good customers.
Today’s customer channels leave little room for vulnerable, slow performing business operations. Lacking either will impact both your customer experience, as well as your ability to protect your customers’ accounts and sensitive private and financial information.
Working together with other effective and reliable fraud-fighting tools, TRUSTID helps create a multi-layered defense that ensures an enterprise and its customer channels are secure and running efficiently. When organizations have the ability to detect spoofed calls and other suspicious activities early in the authentication process, they are less prone to make the same mistakes that continue to plague customer channels year over year.