Phillip Noel, Orange County's call center manager, said his contact center is challenged by mitigating fraud while interacting with members to complete financial transactions. "It is really important to leverage technology to help find the balance between member experience and mitigating loss."

Cox explained, "We can give our clients, in this case, Orange County's Credit Union, an authentication token, which is created at the financial institution. It's really about making sure the call is not spoofed, not hacked, not altered; it is a one of a kind call not coming from behind a virtualized service."

Orange County's implemented TRUSTID in February in conjunction with a conversion to a new telephony system. The credit union saw both changes as opportunities to improve the identification process while reducing the overall processing time, which allows associates to perform more transactions and shorten member wait time.

When describing the confirmation process, Noel said the first step is to verify that the caller's ID number is in the credit union's database. "We call it pre-queue, which basically means that you identify within a phone system before connecting to an agent." Once the number is authenticated, the system transfers the member (if they need to speak with an associate), along with a green verification token and all additional information the system gathers on the member, to a call center associate. "That process increases visibility and allows the associate to execute your transaction in a more efficient manner," Noel said.

The TRUSTID solution's ability to verify members within the Interactive Voice Response system and provide basic information culled from the Symitar Episys core system allows the entire system to handle the workload of one full-time employee each month, according to Noel.

So far, the response from associates, who now feel more secure about the authentication process; and members, who do not want to speak to an associate in most cases, has been positive. Noel explained the objective is to reduce the need for associates to ask for a membership number and date of birth, and instead receive some basic member information that has been authenticated within the IVR. "It just allows the system to be more efficient."

Cox elaborated: "You've got some operational efficiencies, which is fantastic for cost savings. And then of course, [you have] the fraud benefit – all the bad guys put into a much smaller pile." Another benefit stems from the member's point of view. "It's a better customer experience," Cox said. "None of us like being identity interrogated, right? Now we can start with, 'How can I help you?' versus 'Who are you?'"

Noel also emphasized associate training plays a vital role in the overall identification process. The credit union created a specific position focused on quality and training efforts, and all new hires go through the training process; the plan is to implement the training on a regular basis as a refresher for all associates.

The Melville, N.Y.-based Verint Systems Inc., The Customer Engagement Company, announced recently that the $8.7 billion, Jacksonville, Fla.-based VyStar Credit Union, which has over 667,000 members, expanded its partnership with Verint by adding Verint Identity Authentication and Fraud Detection to reduce operational costs and protect member identity while improving the overall member experience.

"A fraud situation is a highly emotionally-charged event, one that can either reinforce member trust or potentially destroy it," Melissa Thomas, SVP of operations and payments for VyStar, said.

VyStar, which has used Verint's Branch Security and Investigation offerings since 2015, intends to counter contact center fraud attacks with multiple layers of protection, starting with adaptive fraud analytics, to perform real-time threat analysis pre-queue. VyStar tested Verint Identity Authentication and Fraud Detection during the first half of 2019 and implemented the various modules in July 2019. The solution analyzes both telephony and voice self-service behavioral data, where unique characteristics and patterns often provide evidence of a fraudulent incident.

Damian Smith, director, product management for Verint, said, "Multiple layers of technology are employed for real-time threat analysis prior to the calls reaching an agent. Through this analysis, the solution can adapt to new fraudulent events by identifying unique characteristics and patterns, [which are] often indicators of potential fraud."

Smith added further analysis using voice biometrics can match the voice on the call against prior fraudster activity. Voice biometrics silently screen incoming calls against a blacklist in real-time while simultaneously authenticating users. "It operates in the background, doesn't disrupt live phone conversations, and is language independent as specific words or phrases are not required."

Voice biometrics analysis also authenticates real customers. "The use of voice biometrics eliminates the friction that's often created when an agent needs to otherwise guide the customer through answering security-related questions," Smith said.

Thomas described how this identification process works: "Starting with adaptive fraud analytics, multiple technology layers are employed for real-time threat analysis prior to calls reaching an agent. Once a call reaches an agent, further analysis via embedded voice biometrics authenticates the member seamlessly or detects a fraudster."

Incoming calls, scored in real-time per telephony data and various risk profile criteria, arrive at the agent's desktop via a pop-up window on the screen with guidance for next steps. The member profile then kicks off a two-factor authentication process via outbound text or email for member identity validation. "The outcome triggers a green/red light to the agent for a simplified agent experience and automated authentication process," Thomas said. "A data flag is encoded on the call recording a two-factor authenticated voiceprint and the voiceprint is automatically enrolled."

A key element of VyStar's fraud detection approach is passive voice biometrics. "This supports a more efficient and effective agent and member experience, leading to lower average handle time and call costs, fraud prevention and potential damage from financial loss that can include time-consuming recovery efforts, credit damage to members and harm to brand reputation," according to Thomas.

Thomas detailed the benefits VyStar has realized so far:

• Improved security and risk reduction. "This has a direct and positive impact on member and data security and plays a significant role in curtailing instances of fraud taking place through our contact centers."
• Better member/caller experiences. Passive voice biometrics eliminates the need for and hassle of multiple security questions that lengthen calls and possibly annoy members.
• Enhanced efficiencies and cost savings. "VyStar can now quickly and easily validate a legitimate member's identity based on their own unique 'voiceprint,' and do so in the background while the call is in process."

Verint interoperates through application programming interfaces to other platforms. Its solutions are available as a hosted cloud-based, hybrid or on premise solution.