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Is Your Contact Center's Budget Bloated by Poor Authentication?

How to Increase Contact Center Efficiency with Identity 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 those problems, adding a net gain to your bottom line.

Neustar Inbound Authentication Increases IVR Containment in Two Ways:

  1. By simplifying callers' authentication in the IVR they are more likely to stay there.
  2. 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 callers authenticated by TRUSTID technology 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, customers using TRUSTID 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 an investment banking client reports cutting from high-risk call times. With typical calls lasting four minutes, this represents saving of 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.

Likewise, if a customer calls from an unfamiliar phone number, Neustar Inbound Authentication will check for the calling number in the authoritative OneID® system. Positive matches will be added to the customer's account.

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.

Plug the worst leaks in your contact center's operations today. Learn more about Neustar Inbound Authentication.

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How much would higher IVR containment save you?

A typical agent call costs $1.00/minute. IVRs cost $0.10/minute. With an average four-minute call, IVR containment means savings $3.60 per call. If your contact center processed 12,000 calls per day with agents, and TRUSTID helped keep 1,000 additional calls in your IVR, your savings would be $3,600 per day or more than $1.3 million per year.

How much would shorter agent calls save you?

If your contact center processed 12,000 calls per day with agents and spent $1 per agent-minute, reducing each call by 30 seconds would represent daily savings of $6,000 or more than $2.1 million annually.

"With TRUSTID, we've seen 5-10% fewer calls go to our agents. When a recent internal maintenance event interrupted our use of TRUSTID, we saw a 10-15% increase in calls to agents on deposit accounts."

Senior Vice President, Top 10 U.S. Bank
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