ATLANTA, June 28, 2017 /PRNewswire/ -- IDology, a leader in multi-layered identity verification and fraud prevention, today announced ExpectID® Call Verification, a new addition to its fully integrated platform, designed to protect contact centers against growing fraud threats. ExpectID® Call Verification increases contact center productivity and reduces call wait times by leveraging real-time mobile carrier data to verify inbound call traffic into a contact center.
Contact Center Fraud on the Rise
Adoption of EMV cards among consumers and the availability of personal information via social media and data breaches have made contact centers a prime target for fraud, which is poised to increase in coming years. According to research firm Aite Group, by 2020 U.S. account takeovers losses enabled by contact centers will reach $775 million, a 97 percent increase since 2015.
"Contact centers have become the path of least resistance for organized criminals and fraudsters attempting account takeover," said Shirley Inscoe, Senior Analyst at the Aite Group. "Segregating calls by utilizing real-time mobile carrier data to verify an incoming call is in session with the call center can be an effective way to mitigate fraud from spoofed calls. Doing this before the call goes to an agent makes it even more effective."
Call spoofing has become easy to do and is a popular first line of attack used by criminals to conceal their identities. To prevent this fraud without inconveniencing legitimate customers, businesses need the ability to accurately identify the legitimacy of incoming calls in real-time and escalate suspicious callers as needed.
"Criminals and fraudsters see contact centers as low hanging fruit in their quest to access legitimate customer accounts," said Chris Luttrell, Senior Vice President of Product, Client Solutions and Marketing at IDology. "Protecting contact centers has become mission critical for businesses as they strive to deliver a positive customer experience and increase productivity. IDology's contact center solutions not only help mitigate fraud, but also help contact centers become more efficient at handling call traffic."
The IDology Difference: An Identity and Fraud Platform to Verify Incoming Call Provenance, Integrated with Sophisticated Authentication Tools
IDology's ExpectID® Call Verification authenticates legitimate callers by verifying that an incoming call is actually in session with the contact center. This lessens the time agents typically devote to customer authentication, gives them more time to focus on servicing legitimate customers and reduces the risk of social engineering attacks.
Callers that appear suspicious can be escalated for additional authentication with IDology's integrated contact center solutions:
ExpectID® Customer Based Authentication – The next generation of Knowledge Based Authentication (KBA) that derives KBA sessions from customer account data instead of public records data, making it more relevant to returning customers and harder for fraudsters to socially engineer agents.
ExpectID® IQ – Dynamically generates non-intrusive and intelligent KBA questions derived from a blend of public and proprietary data sources.
IDology's contact center solutions can also be combined with an existing interactive voice response (IVR) system for additional cost savings and productivity gains.
White Paper: http://ww2.idology.com/contact-center-fraud-solutions
IDology provides real-time technology solutions that verify an individual's identity and age for anyone conducting business in a consumer-not-present environment to help drive revenue, decrease costs, prevent fraud and meet compliance regulations. Founded in 2003, IDology offers a solution-driven approach to identity verification and fraud prevention that ultimately helps increase customer acquisition and improve the customer experience. IDology has developed an innovative and on-demand technology platform that allows customers to control the entire proofing process and provides the flexibility to make configuration changes that are deployed automatically—without having to rely on internal IT resources or IDology's customer service so businesses can stay ahead of the fraud landscape while maintaining compliance. For more information, visit www.IDology.com or call 866-520-1234.
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