Everyone has a story to tell about credit card fraud, money disappearing out of their bank accounts and even identity theft and they can be frightening and scary. Personal information should be just that, personal, and the idea that someone else has access to your private details is not a nice one. Fraudsters these days have all kinds of tricks up their sleeves and are consistently coming up with new ways to commit fraud and gain access to accounts they have no business with.
Organisations all over the world have to deal with fraud and are constantly searching for services that can guarantee protection of their customers’ information. Identity fraud is the fastest growing crime in the world which has resulted in some highly effective solutions that can reduce the threat of financial or identity scams, reduce the amount spent on PIN and password resets and allow your business to provide an improved personalised service to clients.
IVR systems use a technology that improves the interaction between businesses and callers through incorporating voice recognition software, and consists of speech analytics, voice prompts, and automated tone recognition. This enables a computer to interact with customers for daily routine calls and the verification process instead of employing people to do it, thus saving lots of manpower hours and money. Once the identity of the person is confirmed or they have been directed to the right department then an actual agent can deal with the real issue.
Voice-enabled caller identification and verification offers every business a solution that will provide them with the confidence needed to offer a highly secure authentication process for verifying callers are who they say they are, thereby protecting both the customer and the business.
All kinds of industries use IVR systems, from the financial and healthcare sector to the legal and entertainment industry, and these days they are used in all manner of transactions, you’ll be familiar with them when you pay bills over the phone and check what time the movies are on, they’re also used for tracking shipping, booking holidays and even making theatre reservations.
The latest advances in voice recognition technology use voice biometrics which recognises a callers voice and handles the routine tasks generally carried out by the agent at the beginning of the call, such as asking for personal details and checking security questions. Security is also improved as personal details can’t be copied by fraudsters, and it guarantees a caller can’t have any kind of influence over the call agent by manipulating, or intimidating them, into providing information to which they are not entitled.
Speech solutions can help in any type of business, with telephone transactions and enquiries dealt with by automation they can be received at a much higher volume and the customer still gets a welcoming and reliable interface. This has transformed the way people handle their financial matters, now they can just call the bank by phone and get their bank balance, transfer money to another account or check their balance all within a few minutes and all automated. Transportation can be booked, take-aways ordered, bets placed, and lots more routine transactions and querys.
For a business it means that the number of customers that can be serviced over the telephone is greatly increased, there are no more long hold times leading to angry customers, and operating costs and the capital investment required to take customer calls are significantly reduced. In turn this can also increase profits for the organisation as they now have more time, and call centre staff, to focus on higher value or other revenue generating calls.