Passwords are broken. You know that.
But do you know call centers are heading that way?
Call centers are under attack by criminals. Smart criminals. And they are targeting credit unions.
Credit unions are responding by asking more members ever harder questions. Just one problem. As the questions get more obscure – what was the make of the second car you owned – more members give wrong answers.
Fraudsters incidentally often can perform quite well on these tests because they have amassed data via the dark web.
They probably know the name of that kindergarten teacher that you have forgotten.
Tough questions are no cure.
The better solution is to implement biometric authentication that eliminates the need for answering a series of obscure questions. Enter Illuma Labs which is focused on helping small and mid sized financial institutions – that means you, credit unions – implement passive voice recognition.
As for what passive recognition means it’s that it happens in the background, the member needs do nothing special. In a matter of quick seconds he/she is authenticated and you can get down to business.
That means quicker call times, lower costs, happier members and happier call center staff.
This podcast is a guided tour into how voice rec works, how to implement it quickly and at low costs, and why this is the 21st century solution to a lot of the fraud credit union call centers are experiencing.