Monthly Archives: June 2015

What’s Most Important When Measuring Customer Experience?

Real-time usability feedback is crucial when measuring the customer experience. Rapid response time, time in queue, total experience time, terminations, and the number of transfers required are all key metrics that should be gauged. An analytics tool for reporting, monitoring, and alerting allows organizations to make informed decisions based on key trends and quickly tune applications to improve overall customer satisfaction and retention long-term.

ViA® is Enacomm’s analytics tool for call centers featuring real-time IVR, CTI and Quality reporting, monitoring, and alerting. In addition to serving as a powerful analytics tool that quickly tunes IVR applications, ViA provides usability feedback, proactively helps make informed decisions, improves customer satisfaction, and identifies key IVR trends.

While methods like customer surveys are important for evaluating the customer experience and can help pinpoint any trouble areas, statistical information can provide an objective overview. “Total time” to conduct a single function, for example, is one of the many factors Enacomm measures to determine how well the consumer experience is flowing. Account usage also helps to inform customer satisfaction. For example, satisfied customers more often use their accounts for core purchases at retail stores.

As for the self-service experience, providing customers with intelligent interactions is paramount, as Frost & Sullivan emphasizes. One of the primary reasons customers become frustrated with this segment is the unnecessary friction they encounter while in the self-service system. By replacing conventional service paths with intelligent paths based on customer data, the friction is minimized.

Enacomm is a leading provider of personalized, multi-modal self-service voice and data processing products and services, including hosted IVR. Innovating since 1986, Enacomm’s team of subject-matter experts guides organizations of all sizes to stay ahead of the curve by implementing advanced, intelligent customer service technologies.

While some focus on containment in the IVR or other automated systems, this measure alone can be misleading and even detrimental to the customer experience. Instead, one must look at all factors available to create an optimal balance, containing customers to the self-service system while providing an exceptional customer experience.

Enacomm can help you measure and improve the customer experience that your organization delivers. Give us a call at 1-877-860-0025 or send an email to sales@enacomm.net.

Flickr/wisdomlight

Flickr/wisdomlight

What can financial institutions learn from the White House’s 30-day cybersecurity sprint?

Nextgov reports that “the White House has directed all federal agencies to take a series of swift measures to lock down government systems, in the wake of a devastating hack that possibly delivered Chinese spies data that could compromise national security.”

During the mentioned data breach that hit the Office of Personnel Management, records on more than 4 million current and former civilian agency and military employees were leaked.

In a statement, the Office of Management and Budget officials said:

Recent events underscore the need to accelerate the administration’s cyber strategy and confront aggressive, persistent malicious actors that continue to target our nation’s cyber infrastructure.

U.S. Chief Information Officer Tony Scott has launched a “30-day cybersecurity sprint”, which includes accelerating the widespread use of multifactor authentication or “two-step ID checks”, because passwords alone are insufficient access controls, officials said. From Nextgov:

Requiring personnel to log in with a smartcard or alternative form of ID can significantly reduce the chances adversaries will pierce federal networks, they added, stopping short of mandating multi-step ID checks.

Multifactor authentication use is needed beyond the federal government. Financial institutions, for example, are prime targets for fraudsters seeking to steal personal information. Enacomm enables organizations to implement multifactor authentication by combining next-generation Knowledge-Based Authentication and biometric authentication.

What might that look like? A bank customer takes a selfie with her smartphone. Next, Enacomm’s system uses facial recognition to compare the photo with her driver license picture, which is stored in a national database. Next, Enacomm’s technology eKBA could prompt the bank customer to answer a few quick questions for which only she — the true user — would know the answers (verified through credit and non-credit sources). Voila! Multifactor authentication.

To find out more about Enacomm’s eKBA and EVA (Enacomm Voice Authentication), which employs voice biometrics technology, visit our products page.

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Enacomm CEO Writes Expert Article for Paybefore: “5 Ways to Make Prepaid Card Onboarding Less Painful for Consumers”

In a new expert article for Paybefore, the leading provider of information to the prepaid, mobile and emerging payments industry, Founder & CEO of Enacomm Mike Boukadakis shares five keys to keep in mind to make the authentication process a positive experience for prepaid consumers:

1. Lose the in-store lag time

Customers want to be able to load and use prepaid cards immediately when they buy them in-store. The need to verify personal information and authenticate consumers’ identities before a reloadable personalized card—with higher load limits—can be mailed, causes days or even weeks of delays, resulting in loss of customer interest and failed activations. Mailing cards is also expensive. A large portion of an organization’s investment is wasted due to activation lag or abandonment. With a rapid onboarding solution, cardholders can be authenticated with accounts activated and ready to reload cash in minutes.

2. Mobilize account activation

Next-generation Knowledge-Based Authentication (KBA) enables organizations to authenticate customers via their mobile phones and activate their accounts in real time. A customer can use his or her mobile device to activate immediately and load additional cash on the card without leaving the store. Plus, a prepaid card company, for example, can authenticate the customer on-the-spot, without using the IVR or the costly interaction of a customer service representative speaking live with the consumer. Engaging customers in their “mobile moment” with an activation and authentication service is more comfortable and convenient for many customers.

3. Use a customer-friendly interface

Research and anecdotal evidence suggest many customers avoid calling an IVR or interacting with an agent for activation and authentication and would prefer to be helped through the process by a pleasant avatar. Alternatively, they can authenticate by landline or the Web. Using a customer-friendly interface, next-generation KBA guides cardholders through authentication using leading-edge techniques that draw on credit and non-credit databases. With the significant rise in wireless usage, mobile KBA meets the wants and needs of consumers.

4. Make the process quick and easy

The fast pace of society and business calls for quick, reliable mobile authentication. Using a layered, dynamic approach versus older static methods, new KBA technology integrates fraud detection, validation and authentication into a single process. Customers can simply tap a link, then click a few buttons and authentication will be complete.

5. Avoid intrusive requests

Financial institutions are required to positively identify and authenticate their customers—but the process shouldn’t be akin to the Spanish Inquisition. A brief explanation prior to conducting KBA—both the explanation and KBA can be automated—will put the cardholder’s mind at ease. Instead of human agents making customers feel like they’re in the hot seat with challenge questions, automated KBA asks for limited personal information and then presents questions that can easily be answered by the true user. Information, such as a Social Security number or ZIP code, can be entered using many types of mobile devices. A variety of questions, which are dynamic in nature, change with each customer’s access. Today’s KBA technology asks customers a series of multiple choice questions, and if the customers do not answer all of the questions correctly, additional questions will be posed or a call can be placed for further verification.

Enacomm offers multilayered authentication for financial institutions that combines advanced KBA with biometric technology. To learn more about Enacomm’s eKBA, click here. And for information on Enacomm Voice Authentication (EVA), which harnesses voice biometrics, go here.

Head on over to Paybefore to read Boukadakis’ full guest article, “5 Ways to Make Prepaid Card Onboarding Less Painful for Consumers.”

How Much Does A Data Breach Cost?

Criminal efforts to steal financial data continue to escalate. According to the Ponemon Institute, the cost of a data breach is now more than $3.8 million, on average – and that doesn’t even include the impact of “mega breaches,” such as the massive attack on Target, which can cost hundreds of millions of dollars. The newly reported figure is 23 percent higher than what it was just two years ago.

According to the research, the average hit for each compromised record including sensitive information is also up 6 percent, from $145 to $154. What’s more, nearly half (47%) of all breaches are caused by criminal attacks, which cost more to resolve than breaches due to human error, for example.

Enacomm’s security technology can help your organization prevent criminal attacks on your customers’ data. Read more about our products eKBA and EVA (voice biometrics authentication) at http://www.enacommweb.net/products.html.

Ponemon Fact Meme