Is Your Contact Center’s Budget Bloated by Poor Authentication?
The wrong authentication techniques increase your costs. They drive callers out of the IVR, onto your agents’ lines. They add 30 seconds or more to your agents’ Average Handle Time. They pressure your agents to serve frustrated callers, increasing your turnover rate.
The right authentication techniques reverse all of those problems, adding a net gain to your bottom line.
TRUSTID Increases IVR Containment in Two Ways:
- By simplifying callers’ authentication in the IVR they are more likely to stay there.
- Because these callers can be highly trusted you can offer higher risk self-service options traditionally reserved for agents.
A national bank client recently shared that they allow TRUSTID authenticated callers to unlock their online accounts, transfer funds between accounts, give travel-abroad notifications, and get one-time passwords for online use. They’ve found that callers who are spared the frustration of traditional authentication are more inclined to help themselves. Overall, TRUSTID customers see a 10% increase in IVR containment.
Reduces Average Agent Handle Time
Knowledge-based authentication takes the first 30-50 seconds of typical phone calls and 90 seconds for typical high-risk phone calls. By authenticating callers before answering, that’s exactly how much a TRUSTID investment banking client reports cutting from high-risk call times. With typical calls lasting four minutes, this represents saving more than 13% and is a genuine customer experience improvement.
Strengthens Contact Databases
If a customer calls from a valid phone number, you can add that validated phone number to the customer’s account. Any future calls from that number would receive streamlined authentication and better service.
Have a mobile app? If it records users’ phone numbers when they log in, add that data to the user’s account. Next time they call in, TRUSTID will use their mobile number to streamline their authentication.
Reduces Agent Turnover
In mid-2017, the median annual rate of contact center agent turnover in the US was 29%. One contributing factor to agents’ stress levels: knowledge-based authentication. Frustrated callers don’t want to be interrogated, they want to resolve their problems quickly. By automating the authentication process with TRUSTID, contact center agents get to skip the most stressful part of their job – hundreds of times each day. With costs to replace call center agents ranging from $5,000-$8,000, even a small improvement in turnover delivers significant dividends.