There are three key issues on credit unions’ minds right now: Fraud, operations, and member experience. Fraud is a rising issue due to uncertain economic times. Operational efficiencies are a high priority because the contact center is now being inundated with calls—time, more than ever, is money. Member experience is always at the top of the priority list because it inspires every roadmap.
Is there a solution that can address all three?
There is. Passive Voice Biometric Authentication effortlessly authenticates members over the phone during the natural course of conversation with an agent. Members register their voiceprint, and on subsequent calls, their voice is matched to this unique identifier, giving the agent a green light when the identity claim is genuine and a red light when a fraudster is attempting an account takeover. This solution addresses these areas with these three key strategies for credit unions to tackle the following:
Passive voice biometrics, including fraudster detection, is a layer of security that seamlessly works with humans to prevent mistakes that often go unnoticed today. When a call comes in, the caller’s voice is compared to the voiceprints of known fraudsters. The agent is alerted and coached from there to take evasive action.
Reduce Agent Handle Times. Agents dread the first few minutes of every call. With LumenVox Passive Voice Biometric Authentication they can start solving the caller’s problem with confidence, verifying identity within seconds, not minutes. LumenVox Passive Voice Biometric Authentication results in reducing AHT by 30 – 60 seconds per call. This drives cost out of the contact center and improves your bottom line.
According to a study by Salesforce, 84% of customers say the experience a company provides is as important as its products or services. Voice biometrics enable your credit union to give your members a positive authentication experience, from the very beginning of the call. With LumenVox Passive Voice Biometric Authentication the member can be authenticated while speaking comfortably and naturally to an agent, reducing the need for a long line of interrogative questioning. Contact centers with passive voice biometrics start by asking their customers “How are you today?” instead of “Who are you, and are you who you say you are?”