Banking contact centers are a prime target for fraud. According to a report from TransUnion, most account takeovers start in the call center, and the frequency as well as volume of attempts has risen dramatically in the past few years. Seon reports that one out of 5 adults in the U.S. has fallen prey to […]
Call center fraud prevention in the financial sector is a multi-layered effort to prevent account takeovers, hacking, and data breaches. Because the contact center involves human interaction, it is a prime target for fraudsters who use methods like social engineering paired with stolen data to try to fake their way into end user accounts. To […]
At Illuma, we help community financial institutions secure banking transactions in the contact center by verifying caller identity. Keeping identity thieves out of member and customer accounts is critical. But what about keeping fraudsters out of the rest of your technology infrastructure? Is the rise in cyber threats a strong reason to add this layer […]
Implementing frictionless authentication has become a top priority for many credit unions and community banks. Creating a seamless experience in the call center is an important goal for improving satisfaction levels. But achieving this objective requires the right technology and a solid plan for implementation. Here’s a look at what makes passive voice authentication the […]
Throughout this series, it’s become clear that there is no such thing as “free” when it comes to authentication. Traditional verification processes come with many hidden costs to banking call centers and those they serve. But how does it compare to the cost of replacing security Q&A with more modern voice authentication technology? Most credit […]
In the past two posts, we’ve been looking at the expense of operations and security for banking call centers. But the cost to the credit union or community bank is only part of the picture. What about the time that members and customers have to spend on authentication? Spending a minute or two on verification […]
At Illuma, we work with community financial institutions of all sizes to implement Illuma Shield™ in their contact center. This infographic covers the journey from identifying the key problems to solve all the way through successful deployment and adoption of voice authentication. Note: Our team collaborates with each client throughout the process, and implementation really […]
Account takeover prevention takes many forms, but passive voice biometrics is ideal for banking call centers.
In today’s digitally focused world, a great deal of emphasis is placed on the technological side of credit union member experience. Technology is certainly a tool that can be used to influence and enhance the experience members have with their credit union. But the emotional dimension of member experience is WHY digital transformation matters. Let’s […]
Consumers today have more options than ever before in their choice of credit union or bank. The rise of digital banking has created an entirely new level of expectation around seamless transactions and what it means to be user-friendly. These changes have made it vitally important for financial institutions to create a frictionless customer experience […]