The choice for the best Customer identification authentication (CIA) software requires thoughtful considerations for the specific needs of a business. One given is authentication methods should be deployed consistently across channels and modes.
Industry analyst and market research firm Hypatia Research Group released a new primary research study providing end-user organizations with best practice benchmarking, vendor evaluations and an analysis of how, why, and when companies invest in Customer Identity Authentication software, what tangible benefits are possible, and which metrics can be used to measure an organizational return on investment (ROI).
Hypatia says two distinct – and possibly conflicting – motivations overshadow the discussion on CIA. On the one hand, organizations want to improve customer service, which means dealing with contact center queries quickly and efficiently. On the other, organizations want to improve risk management. That means limiting to as small a percentage as possible fraudulent attempts at credit card purchases, identify theft, prescription drug misuse, or other crimes. These two motivations overlap sometimes as well: organizations strive to assure customers that their call-center processes keep personal information safe and secure.
The research firm notes anytime an organization can remove a human being from a business process, it makes it faster and less expensive. Furthermore, there’s always a record of the transaction, and a verifiable voiceprint of who made the request. It’s like an automatic auditing system. With traditional contact center applications, there will be a record of a transaction, but it could be from someone with purloined information.
Additionally, Hypatia ound that several vendors are taking a multi-modal or multifactor authentication approach to CIA beyond voice biometrics, in which case it is recommended there should be assiduous back-end integration. In short, companies should think about cross-organizational design and encompass numerous issues, from integration of authentication methods to application integration.
More information at: Customer Identity Authentication: A Practitioner’s Guide to Best Practices in Avoiding Identity Theft, Fraud & Risk.
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