IDology, a provider of multilayered identity verification and fraud prevention, has introduced ExpectID Call Verification, an addition to its fully integrated platform, designed to protect contact centers against growing fraud threats. ExpectID Call Verification leverages real-time mobile carrier data to verify inbound call traffic into contact centers.
Contact center fraud is poised to increase in coming years. According to research firm Aite Group, by 2020 U.S. account takeover 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, in a statement. "Segregating calls by utilizing real-time mobile carrier data to verfiy 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."
"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, in a statement. "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."
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 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. These include the following:
- ExpectID Customer Based Authentication, a knowledge-based authentication (KBA) that derives KBA sessions from customer account data instead of public records data; and
- ExpectID IQ, which 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 existing interactive voice response (IVR) systems.