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 […]
Overview With more than 70 years of history serving the residents of Wyoming, WyHy Federal Credit Union is a financial institution that has perfected the art of delighting small town communities with personal service. With $378M in assets under management, over 20,000 members across the state rely on WyHy to provide personalized financial services in […]
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 […]
Credit Unions are learning more every day about AI, but there is still a lot of confusion about what it means for the financial sector. Is AI a good thing or a bad thing? What is generative AI and how will it impact credit unions and community banks? What risks does it pose in the […]
What hidden costs are draining community financial institutions if they continue to use out-of-wallet questions for caller verification in the contact center? At Illuma, we speak with leaders at credit unions and community banks every day about improving their caller authentication processes through the power of voice biometrics. And as with any decision around digital […]
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 […]