Traditional Methods are Unpopular
It doesn't matter which company you call, the beginning of the conversation is usually the same. You'll be asked for your customer ID, then your address and after that, just to be sure it's really you who's calling, your birthdate. If you're referred to another person, it's often the same procedure all over again.
Most customer aren't happy with that: 65% of customers find the authentication process frustrating.
10 out of 2500 Calls are Frauds
Despite everything, current authentication processes aren't very secure. Out of every 2500 calls in contact centers, 10 are fradulent. Up to 50% of all authentication questions can be cracked by fraudsters and passwords guessed.
That is very concerning, not least because customers rate security highly when considering providers.
Voice Biometrics as a Secure Authentication Method
Traditional authentication methods are neither secure nor popular among customers. Real Time Authentication is the ideal alternative, as it solves both problems. The customer's voice itself is the password. The authentication happens authomatically in the first seconds of the call and is completely unobtrusive.
Based on the characteristics of each individual's voice, Real Time Authentication recognizes whether the caller is indeed the customer.
With this method, fraud is prevented without real customers having to jump through hoops.
Each human voice is unique. A human's voiceprint is created from physical characteristics such as the shape of the vocal tract and behavioural traits such as dialect and speed. There are hundreds of different characteristics that comprise an individual's voiceprint.
This variety cannot be copied. Even twins have different voiceprints.
Furthermore, RTA works in a natural conversation, without passphrases. Passphrases could be recorded and replayed, whereas a natural conversation between employee and customer cannot be recorded beforehand.
This makes authentication over voice biometrics more secure than other methods on the market.
Voice Biometrics Already Established Abroad
In other countries, authentication using voice biometrics is already established. Citibank, for example, uses this method in Asia and their customers embraced it: Over 75% of customers have already agreed to authentication using voice biometrics.
More and more banks and companies from other industries invest in voice authentication. Whereas there were only 70 million voiceprints worldwide in 2015, there are more than 150 million of them in 2016 already.
Would you like to find out more about how you can use Real-Time Authentication? Contact us!