Stop Fraudsters Before They Reach Your IVR
Risk of call center fraud increases when unauthenticated callers can access the IVR.
Some fraud-prevention solutions in inbound call centers assess risk while allowing callers to engage with the interactive voice response (IVR) system. Granting non-authenticated callers access to an IVR puts at risk millions of dollars via account takeover fraud and loss of customer lifetime value. At least 40 percent of consumers whose accounts are taken over move some or all of their business to another financial institution following the compromise.
At the heart of all these issues is post-answer authentication: an outdated model that not only increases risk of fraud, but also frustrates customers and drives operational waste. Post-answer authentication prevents agents from resolving calls quickly. Conversely, a trust assessment that completes before inbound callers hear “hello” allows contact centers to provide the experience consumers expect without increasing risk of fraud.