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Verint Announces New Voice Biometrics Customer in Philippines Bank
From governments to healthcare, organizations worldwide are increasingly turning to voice technology as a secure method for ID verification. For banks in particular, there is an urgent need to update security measures to ensure the safety of customer financial information. Biometric voice recognition technology is increasingly allowing financial services organizations to customers’ voices as an added layer of protection for their accounts.
The need is particularly urgent to protect customers from call center-based phishing scams, in which would-be identify thieves approach a call center pretending to be a customer in an urgent situation in an effort to gain access to confidential data and – inevitably -- the account’s funds. At the same time, banks are aware that customers want fast service and that many types of authentication are slow and frustrating. Voice biometrics represent an opportunity to speed authentication and ensure that customer data – and funds – remain safeguarded.
Melville, New York-based Verint (News - Alert) Systems, which offers a voice biometrics solution as part of its Identity Authentication and Fraud Detection (IAFD) offering, recently announced a new customer. RCBC Bankard Services Corporation, the credit card arm of Rizal Commercial Banking Corporation (RCBC), one of the largest universal banks in Philippines, has collaborated with Verint on a landmark upgrade of their voice recording and biometrics systems.
Verint voice biometric technology was designed to recognize the unique vocal characteristics of enrolled customers seconds into a live call, helping reduce the number of security questions and average handle times. This faster authentication can reduce contact center costs, help eliminate the need for security questions, and can provide an overall improved customer experience, according to the company.
“The implementation of voice biometrics improves our workflow and increases the security behind every single call,” said Simon Calasanz, RCBC Bankard President and CEO. “This is at a time when credit card fraud has become more prevalent.”
Calasanz noted that RCBC Bankard’s service delivery is of utmost importance to its customers, and the company is pleased that the upgrade to the system was executed to the highest degree.
“The Verint and Inspiro teams were well orchestrated and operations continued smoothly behind the scenes,” he said. “Following the deployment, we expect a decrease in the number of security questions, and we will have the ability to provide assistance more quickly, with a reduction in average handle time.”
Edited by Erik Linask