Artificial Intelligence (AI) has been getting a great deal of attention lately with the topic of deepfakes and its potential use in voice fraud. However, as with any technology, AI can be used for good or evil. Let’s start by taking a look at what AI is and clear up a common misunderstanding around the […]
It was great to speak with Michael Lawson from CU Broadcast and AmeriCU Credit Union’s EVP Alissa Sykes Tulloch about the power of voice authentication. Click through below to watch the full episode. In a recent press release, Ronald Belle, President and CEO of AmeriCU Credit Union, shared anticipation about the effects of this tech […]
Compared to speech recognition, which was invented in its most rudimentary form in the 1950s, voice authentication only emerged as a commercially viable technology solution in banking over the last couple of decades. For Illuma, the journey to developing voice verification to secure phone calls began in 2016 as an advanced R&D project with the […]
In an increasingly digital world where users are accustomed to self-service banking through a website or app, banking call centers still play an important role in helping account holders with complex questions or critical transactions. Unfortunately, contact centers are also a prime target for account takeovers. Fraudsters often exploit human agents and the vulnerabilities of […]
Overview Financial Plus Credit Union was founded in the 1950s as a financial collective serving employees of the Chevrolet Motor Company in Flint Michigan. The organization expanded its field of membership in 2021 to serve the entire state of Michigan where it now impacts the lives of more than 81,000 members. This credit union is […]
Imagine a world where Average Handle Time (AHT) was so well managed that there was EXTRA time available to talk instead of rushing to conclude each call and get on to the next. For banking call centers in this scenario: When the caller experience is streamlined and frictionless, there is less urgency on either side […]
Overview Evans Bank has been serving Western New York for over 100 years. As a $2.1B community bank with 18 branches, the institution has the advantage of a deep understanding of local clients and communities. The organization tailors its services and products to meet consumer needs, while the Financial Fitness team offers education around financial […]
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 […]
Cutting member verification time by 83% is a metric high enough to raise eyebrows in the credit union industry. Mike Lawson led a great exploration with WyHy VP/CIO Eric Valla about the results that are possible for call centers that adopt passive voice authentication. WyHy joins the ranks of credit unions seeing exceptional adoption after […]