Tag Archives: card industry

The Prepaid Press Features Enacomm in Review of Technologies and Trends in Prepaid Card Security

prepaidpress logoEnacomm CEO Mike Boukadakis recently spoke with Arlene Hauben, editor at The Prepaid Press, about why this is an “exciting time for the use of security in prepaid.” Addressing how prepaid providers are responding to consumer concerns in her Technologies and Trends article, Hauben highlights which Enacomm products RushCard is utilizing to enhance card security. From the story:

RushCard will employ Enacomm’s eKBA mobilized authentication of customers. This will include caller verification methods that rely on basic information and voice biometrics technology provided by Enacomm.

In addition to putting new security measures into effect, Enacomm recently implemented its self-assisted service solution for RushCard. This solution focuses on creating intelligent customer interactions with an interactive voice response (IVR) system.

RushCard will be using ENCART, Enacomm’s Network Call Allocation Routing Tools that provide dynamic real-time load balancing among call centers for incoming calls; ViA, Enacomm’s analytics tool for call centers featuring real-time IVR and computer telephony integration reporting, monitoring and alerting; and Engage, a single, browser-based console that will allow RushCard to enhance and direct its IVR system.

In his interview with Hauben, Boukadakis explained that security systems can help prepaid be as safe as credit cards. From the write-up:

“Consumers who use prepaid want the same level of protection with prepaid cards,” said Boukadakis in an interview. “The goal in prepaid is to raise the level of comfort for the users to the same level that they have with credit or checking accounts.”

For more interesting insight, stats and trends, head on over to The Prepaid Press to read the full feature article.

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Enacomm Offers Answer to White House’s Card Security Concerns

The White House is bringing down the hammer on fraudsters. This month, President Obama officially nominated Loretta Lynch to be his next attorney general – and she is TOUGH on cybercrime. In fact, one of her biggest cases was the prosecution of hackers who allegedly stole $45 million from ATMs throughout 27 countries in an enormous bank heist. A federal prosecutor in New York, Lynch is responsible for expanding her office’s leading national security practice into the area of cybersecurity. When Obama announced Lynch’s nomination at the White House, he gave her kudos for “aggressively” fighting illegal activities exploiting the Internet and other computer networks.

To boot, in October President Obama signed an executive order for “Improving the Security of Consumer Financial Transactions”. The order will require all credit cards issued to government employees and used for official purchases to be armed with Chip-and-PIN technology, which is more secure than Chip-and-signature technology that most issuers and merchants are adopting in compliance with EMV mandates imposed by the major card networks.

According to CardNotPresent, the “president said he was working with companies like American Express, Home Depot, Target, Visa, Walgreen’s and Walmart to ensure private sector action making Chip-and-PIN enabled terminals available everywhere.” With data breaches making headlines in recent years, mounting public pressure already prompted many companies to get on board with the transition to EMV to protect their customers, their assets and their reputations.

In conjunction with the above, a war against identity theft is being waged. The White House is seeking to enhance IdentityTheft.gov, to improve information sharing and coordination around fraud attacks, and to put on a cybersecurity and consumer-protection summit.

The President also put in a good word for multi-factor authentication. For online security, he’s called upon the National Security Council staff, the Office of Science and Technology Policy, and OMB to come up with a plan by early 2015 “to ensure that all agencies making personal data accessible to citizens through digital applications require the use of multiple factors of authentication and an effective identity proofing process.”

Enacomm is ready to answer this call with multi-factor authentication that utilizes voice biometrics and enables mobile knowledge-based authentication (KBA) to safeguard against fraud:

  • eKBA (Enacomm Knowledge-Based Authentication) is the best mobile product available to help organizations authenticate their customers and activate their accounts in real-time. The perfect choice for fraud prevention, eKBA provides a non-intrusive, positive customer experience and is compliant with FFIEC guidance, the Federal Fair Credit Reporting Act, USA Patriot Act, and the Gramm-Leach-Bliley Act.
  • Eva’s (Enacomm Voice Authentication) voice biometrics are proven methods of identification — perfect for multi-layered authentication systems. Utilization of voice biometrics is more reliable than fingerprinting and is used by government intelligence agencies worldwide. While PINs and other authentication data can be breached, a customer’s voice cannot be compromised or stolen.

Cybercrime has relentlessly challenged consumer confidence, private sector success and government patience. To learn how Enacomm can help your organization guard against fraud, reach out to us at 1-877-860-0025 or sales@enacomm.net.

 

Kaiyan/Flickr

Kaiyan/Flickr

Enacomm Makes Headlines at Money20/20 with Card Security Technology

This past week at Money20/20 in Las Vegas, Enacomm joined the FinTech industry to explore the future of innovation in money. Leading the way with card security technology, Enacomm exhibited two next-generation products that are changing the way financial institutions authenticate their customers.

The perfect choice for fraud prevention, eKBA (Enacomm Knowledge Based Authentication) is the best mobile browser product available to help organizations authenticate their customers and activate their accounts in real-time. Enacomm also unveiled Enacomm Voice Authentication (EVA), which employs voice biometrics, a proven method of identification.

On Monday, we announced that RushCard is relying on Enacomm to enhance cardholder security with the help of eKBA and EVA. RushCard is a prepaid card that revolutionized the payments industry when it was launched in 2003. On Tuesday, it was revealed that IDology’s must-have technology has been fully integrated with eKBA, a new partnership that takes out-of-wallet authentication to the next level. IDology is a leading provider of on-demand identity verification and fraud prevention solutions for anyone conducting business in a customer-not-present environment.

In addition to wowing all attendees with exciting new technologies that are driving the evolution of customer interactions, Enacomm wowed three attendees with exciting new technology for their briefcases. During the show, Enacomm gave away Microsoft Surface Pro 3 tablets to three lucky winners.

Use the hashtag #Money2020 on Twitter for an event recap of the three action-packed days. And to learn how your organization can utilize advance Knowledge-Based Authentication and voice biometrics to protect your business and your customers against fraud, drop us a line at sales@enacomm.net or give us a call at 1-877-860-0025.

Money2020 - mike k

Prepaid’s Insight Card Chooses Enacomm, Improves Customer Service & Reduces Operating Costs

insight logoPrepaid card company Insight Card Services has selected Enacomm to provide intelligent customer interactions technology. After just two months of deployment, Insight is reporting a “better, more reliable customer service experience” for its cardholders, as well as reduced operating costs.

According to Jeff Gleason, Chief Financial Officer of Insight Card Services, “The efficiencies and cost savings were also important considerations in making the switch to Enacomm.”

In addition to harnessing its self-service IVR functionality, Insight Card Services is utilizing ViA®, Enacomm’s analytics tool for call centers featuring real-time IVR and CTI reporting, monitoring, and alerting, and Engage™, which enhances and directs IVR systems from a single, browser-based console to maximize IVR and web investments. On deck for implementation by Insight Card Services is Enacomm’s eKBA™, mobilized authentication of customers through next-generation knowledge-based authentication (KBA).

“Insight Card Services recognizes that a stellar customer self-service experience is the competitive edge needed to win and keep consumers who now demand and expect speed, convenience and ease when they reach out for assistance,” explained Enacomm CEO Michael Boukadakis. “Multimodal, intelligent customer interactions are the way of the future, but Enacomm’s advanced technology enables them today.”

Enacomm is making the customer service experience better for unbanked and underbanked Americans who rely on companies like Insight Card Services that offer them financial solutions. To learn more about how Enacomm is helping Fortune 50 to Fortune 2000 companies in the Financial/Credit Union, Prepaid/Cash Card, Health Care and Utilities industries with innovative, interactive and intelligent customer self-service and assisted-service solutions, give us a call at 1-877-860-0025.

PaymentsSource Publishes Expert Article by Enacomm CEO Mike Boukadakis

PaymentsSource

PaymentsSource, a publication that provides news and analysis about credit card, debit card, mobile payments and other technology and trends in the payments industry, has published a guest article by Enacomm CEO Mike Boukadakis. In the op-ed, titled “Reaching Millennials Requires a Multi-Modal Approach,” he discusses how consumer expectations of the customer service experience have evolved along with the role technology plays in Americans’ lives.

To open the piece, Boukadakis points out that “there’s an eye-opening number of millennials in the United States, as many as 86 million, according to Barron’s, making the segment vital to payments strategy.”

What sets this population apart? According to Boukadakis:

These “digital natives” grew up with computers in their homes and new technology in their pockets. When Apple introduced the iPhone seven years ago, switching to a smartphone was a natural, seamless transition for their lifestyles. The rise of texting, apps, and mobile broadband has created a collective expectation for immediate information, and more so now than ever before, players in the payments industry have to meet consumers where they are with customer service. “If you build it, they will come” just won’t cut it amidst fierce competition to capture and keep patrons.

What is integral to a customer service experience that will compel consumers to pledge their loyalty? From the article:

Voice processing infrastructure is still a cornerstone of top-notch customer service, but what’s available today is not your father’s IVR. Voice self-service can now adapt to customers’ individual needs in real-time and should be utilized as part of a strategic, multi-modal offering. For consumers to pledge their loyalty, nothing less will do than a quality customer service experience shaped by intelligent interactions.

Read Boukadakis’ full op-ed on PaymentsSource’s website here and find out how to make the IVR experience highly personalized and multi-modal. To get more information on how Enacomm can help take your organization’s customer interactions to the next level, give us a call at 877-860-0025 or drop us a note at sales@enacomm.net.

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Image: ThinkStock

Enacomm Named to MasterCard Compliant Service Provider List for Commitment to Payment Data Security

lock and keyEnacomm made the list – again! In order to be named a MasterCard Compliant Service Provider, a company must 1) Give MasterCard a copy of an Attestation of Compliance (AOC) by an independent Qualified Security Assessor reflecting validation of the company being PCI DSS compliant, and 2) Be registered as a Service Provider by one or more MasterCard customers. Enacomm’s AOC date was February 24, 2014, and its Assessor was True Digital Security, Inc. Find us on MasterCard’s list here.

An important credential, Enacomm is PCI DSS Level 1 compliant, having completed an on-site audit, quarterly network scanning, and numerous other security audits. What is PCI DSS? It’s a security standard that was created by payment industry leaders to reduce vulnerabilities in IT related processes, procedures and infrastructure.

Payment data security is top-of-mind for consumers in the wake of an egregious breach at the end of 2013. Enacomm CEO Mike Boukadakis observed:

“Consumers are still rattled and amazed by seeing as many as 40 million Target Retail customers get their credit and debit card data stolen over the holidays.”

But, as an intelligent customer interactions technology provider for the payments and financial industries, Enacomm is committed to helping its customers protect themselves against this injurious theft. In fact, we go to great lengths to ensure security of cardholder data. As explained by Enacomm’s Chief Operating Officer David Jackson, “Hundreds of steps must be taken every year to receive this affirmation from MasterCard – but Enacomm appearing on this select list of companies isn’t the first time and won’t be the last.”

Jackson added, “Enacomm supports our partners every day to give them peace of mind that their cardholders are protected.” (Keep an eye out for a Slashdot interview with David on payment data security! He’ll be participating in a Google Hangout with the six-million-plus-reader publication later this week.)

Give us a call at 877-860-0025 to learn how we can help you protect your customers’ payment account data and every transaction.

 

Paybefore Publishes Guest Article from Enacomm COO

paybefore logoWriting for Paybefore, whose publications are “the leading source of industry information for alternative payments executives,” Enacomm’s own Chief Operating Officer David Jackson explains in a guest article how organizations can link interaction channels to better connect with customers. First highlighting how touchpoints have proliferated with the evolution of technology, “Intelligent Interactions Improve Customer Service, Boost Loyalty” provides guidance on how brands can boost customer care and require less effort from patrons. From the op-ed:

The IVR—and all other customer touch points—should be looped into every other customer interaction to serve customers more efficiently and save them the headache of rehashing the same information again and again.

By sharing data across channels to require less effort from customers and improving service, you’re more likely to have less frustrated, more loyal customers. According to CEB Research, 96 percent of customers who had a high-effort service experience reported being disloyal, compared to only 9 percent of customers who reported a low-effort experience.

How can companies take their customer relationship management (CRM) to the next level to stay competitive? Jackson recommends an enterprise-wide policy management engine. This “dynamic decisioning” recognizes customer interactions across all channels and responds accordingly, regardless of the channel the customer uses.

From the article:

Bringing together interaction channels with a dynamic decisioning solution can vastly improve the customer experience by optimizing and adapting to changing customer behavior in real-time. And thanks to data analytics, you can not only adapt based on recent customer activity, but you can often anticipate a customer’s needs based on consistent, repeated behavior over the long-term.

To help paint a picture of how intelligently relating to customers can improve loyalty, Jackson gives a prepaid-specific example:

A customer activates his or her prepaid card. The first time he or she calls for self-service or to speak with an operator, a message plays that says, “Thanks for activating your card. Sign up for direct deposit within seven days, and we’ll credit your account $10.” It’s a win-win: The customer appreciates the message tailored to his or her situation and the opportunity to earn cash, and you secure his or her regular business.

Be sure to check out Jackson’s entire article here for more valuable information on using predictive analytics in omnichannel. And Enacomm is just a phone call away at 877-860-0025 for help with questions.

Enacomm Partner Takes the Gold in Paybefore Awards Category

up visa

Banking Up, a partner of Enacomm and leading online and mobile financial services company, was named a winner in the eighth annual Paybefore Awards for its UPside Visa Prepaid Card. Banking Up swept the competition in the “Consumer Champion” category.

Enacomm recently announced that it deployed a hosted, self-service interactive voice response (IVR) solution for Banking Up. Enacomm’s analytics software allows Banking Up’s internal database to be utilized to create intelligent interactions, optimizing the customer call experience through an adaptive decisioning engine driven by real-time access to customer data.

In their eighth year, the Paybefore Awards have “conferred the most prestigious recognition of excellence in the worldwide prepaid, mobile and emerging payments industry. The awards are presented annually by Paybefore, whose publications are the leading source of industry information for alternative payments executives.”

According to Banking Up’s news release, the “UPside Visa Prepaid Card was selected by a panel of five industry experts who served as judges for this year’s competition, which—once again—included a record number of entries from around the world.”

From Patrice Peyret, CEO of Banking Up:

“We are particularly proud to have been named a winner in the Consumer Champion category, as it rewards our consistent efforts to differentiate by being a virtuous market player. Large banks are still not making headlines by putting their customers first. Meanwhile, in 2013, UPside cardholders became able to deposit checks from home or from work using their mobile phones, and started hearing mid-Western accents when calling our newly on-shored customer support service center.”

To learn more, go to bit.ly/LGnneK. Congratulations, Banking Up!