The Features that Define the Future of Fraud Prevention in Contact Centers

One of the lasting impacts of Covid-19 related “lockdowns” is a fundamental change in the role of contact centers that emphasizes the need both for speedy authentication and stronger methods to combat fraud. At first, there was a rush of activity to cancel travel plans, negotiate new payment terms, investigate home WiFi and streamed entertainment options and other topics that were both complex and personal in nature. Hold times were long; emotions high; agents stressed; exposure to fraud based on “human engineering” acute.

The opening spike is over. The second wave brings a different mix of topics as individuals use the phone to support their new home-centric lifestyles. Personal financial issues are a constant. Now they are accompanied by queries surrounding the status of an order or timing of a shipment, as well as growing instances of health-related activity ranging from testing sites, insurance coverage and remotely conducted doctor’s appointments. Once again, the topics are highly-personal and the need to establish a trusted link with a service provider is heightened by the fact that criminals have adjusted their plan of attack to the new reality as well.

Contact center agents at cable companies, banks, airlines, hotel chains, medical groups and retailers join government agencies as targets for illegal access to personal data and account take-over. The pandemic exposed new “attack surfaces” for criminals, but it also gave rise to the implementation of technological solutions that can detect fraudsters in the background, thwart their illegal intents and prevent them from carrying out fraud in the future.

Contact center solution specialist NICE offers a Real-Time Authentication (RTA) suite of solutions that conform to Opus Research’s Intelligent Authentication (IAuth) checklist: 

• Real-time: Continuous vigilance enables companies to detect imposters in real-time, 24 hours a day.
  
• Risk-aware: Recognizes the level of risk associated with a user as well as the actions of that user.
  
• Adaptive: Employs mechanisms that respond to the latest techniques in the perpetual cat-and-mouse game between companies and imposters.
  
• Multifactor: Promotes accuracy by employing any factor necessary to detect an imposter, including “something you know” (like a PIN or password), “something you have,” (like a smartphone or dongle) and “something you are” (voice, face, fingerprint or behavioral biometrics).
  
• Multilayered: Involves “step-up procedures” or multiple factors and protocols to discourage false acceptance of imposters or false rejection of legitimate customers.
  
• Blacklist: Analyzes inbound calls and their outcomes and identifies frequent callers who are known imposters.
  
• Deep Integration: Combines caller authentication and fraud prevention contact center, CRM, Analytics, WFO resources to improve agent efficiency and customer satisfaction without sacrificing security.

Listen to Opus Research and NICE interactive webinar as they provide more details about the IAuth checklist, how changing workflows for both agents and customers allows for swift, strong adaptive authentication, and the latest cloud-based technologies for both authentication and fraud-loss prevention.