Updated: Jan 28
A new Aite Group report finds that contact center fraud losses are up in 36% of contact centers in 2020 compared to 2018.
Boston, December 17, 2020 — Improving the customer experience has been a high priority for financial institutions in recent years, but many contact centers continue to use high-friction methods and obsolete technologies to authenticate customers. Contact centers are also recognized as the delivery channel that is most easily compromised by fraudsters, often leading to account takeovers. Aite Group’s latest report, Improved Customer Experience, Reduced Fraud and Cost: Contact Center Solutions, explores whether investments in low-friction authentication methods can reduce costs and improve customer satisfaction.
“Contact centers are often viewed as the easiest delivery channel to compromise andI are used by fraudsters to impersonate customers so they can gain access to their accounts or payment devices (e.g., cards or checks),” states Shirley Inscoe, senior analyst at Aite Group. “These impersonations often result in account takeover fraud events,” she adds.
This Impact Report focuses on solutions that can be used in the contact center to provide multiple benefits to FIs and showcases each solution’s capabilities. It is based on Aite Group’s telephone briefings and demo calls with eight participating vendors: Daon, Neustar, Next Caller, NICE, Nuance, Pindrop, Prove (formerly Payfone), and Verint.
About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the weband connect with us on Twitter and LinkedIn.