Over the past few years there has been a large focus to develop security solutions for mobile and online channels. This has left your contact center vulnerable. To fraudsters, they see your contact center as a huge fraud opportunity. And they love you for it.
“Why your contact center is a massive fraud risk” Click to Tweet
Are you at risk?
You can bet on it.
Thieves from the mobile space, online space and even in-person fraudsters are making their way into the call center as they’re experiencing great success.
In fact, data collected at Pindrop® Labs has shown a significant increase in the call center fraud rate, a jump of 113% from 2015 to 2016.
Fraud in call centers increased by 113% in 2016. Click to Tweet
In 2015, one in every 2,000 calls was fraudulent. In 2016, that number jumped to 1 in 937, an increase of 113%.
The Call Center Journey
For you to think about where you need to detect and trap fraud, you need to best understand your call center journey. How does your caller travel through your call center? Have you mapped out all of the different call paths?
Risk points exist in your IVR and all of your agent touchpoints. Ideally, you want to be able to have early detection of fraud. And you also want to authenticate early and give callers the express pass for their travel.
Triage and transfer
Just like other specialties in your call center, when you have identified a potential fraudulent call, you’ll be most effective when you have agents that are specially trained to take these calls.
Training all of your agents to handle high risk fraud calls is a practice that very few call centers would elect to deploy. It’s a specialty.
Implementing the proper fraud risk model will enable you to keep your focus on call efficiency while reducing fraud.
Educating Contact Centers
Fraud is an area that is affecting more segments of the contact center industry. So I appreciated the opportunity to learn from Matt Raymond of Pindrop at the ICMI Contact Center Expo.
Matt Raymond from Pindrop talks fraud detection in contact centers. Click to Tweet
Pindrop provides enterprise solutions to secure phone and voice communications. Pindrop solutions reduce fraud losses and authentication expense for some of the largest call centers in the world. Pindrop’s patented Phoneprinting technology can identify, locate and authenticate phone devices uniquely just from the call audio thereby detecting fraudulent calls as well as verifying legitimate callers. Pindrop has been selected by the world’s largest banks, insurers, brokerages and retailers, detecting over 80% of fraud, even for attackers never seen before. Our solutions are allowing our customers to reduce call time and improve their customers experience even while reducing fraud losses. Pindrop is restoring confidence in the security of phone-based transactions. Source: https://www.pindrop.com/about-pindrop-security/
The Honest Customer
It’s too easy to treat all callers as high risk. We have all experienced poorly designed authentication practices.
Authenticating ourselves multiple times or needing to do it when we have a general question, makes for a bad customer experience.
And know body wants to feel treated like a criminal when they’re not.
As customer experience author and speaker Amas Tenumah wrote:
“Why do organizations put customers through hell before providing service? To protect the customer they say. The thinking is you ask a bunch of questions only the customer knows for security purposes. This was a great idea 20 years ago, after all 20 years ago no one would know the name of your elementary school or best friend, but I surely don’t need to convince you that a low level criminal with a dial up connection and a Facebook account can figure that out.”
Causing a poor customer experience can no longer be an option in our experience-minded marketplace. To do so may cause you to be exposed to more risk than fraud. Go beyond average and standout from everyone else.
A bad customer experience may be more risky than fraud. Click to Tweet
Safely Protect yourself from fraud
Grab a copy of the Call Center Fraud Report and if you need to learn even more contact matt.raymond [at] pindrop.com.
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Jim Rembach is the Editor in Chief of the Customer Service Weekly and it’s Podcast host. He is President of CX Global Media and the creator of the Call Center Coach Virtual Leaders Academy. As the host of the Fast Leader Show Podcast, he has interviewed hundreds of experts, authors, academics, researchers, and practitioners on various angles, viewpoints, and perspectives for improving the customer experience. He has held positions in retail operations, contact centers, customer support, customer success, sales, and measured the customer experience. He is a certified Emotional Intelligence practitioner, Employee Retention Specialist, and recipient of numerous industry awards.