Enacomm’s 4Cast® is a hosted CRM product that automates intelligent customer interactions, predicts future behavior and conducts targeted messaging campaigns. 4Cast tracks customers’ activities and anticipates their needs in real-time. Using an advanced real-time decisioning engine, 4Cast researches hundreds of data points and accesses dozens of business policies to provide an exceptional customer self-service experience – all while aggressively conducting ongoing marketing and retention campaigns that are unique for each customer. From recognizing a customer by name to performing complex account analysis and probability modeling, 4Cast autonomously works to upsell, communicate and retain.
Remember being fascinated by iris recognition, fingerprint scanning and voice analysis in movies like Men in Black, Mission: Impossible, and Minority Report? Thanks to new advancements, biometrics technology will soon transform the customer experience, too, allowing consumers to be identified based on their unique personal attributes.
In a new guest column for CRMXchange, Enacomm CEO Michael Boukadakis points out that “fraud, identity theft and data attacks are disproportionately plaguing our nation — breaches involving U.S. entities accounted for 41.1 percent of incidents worldwide, according to Risk Based Security.” Traditional forms of account authentication, Boukadakis explains, are no match for modern forms of fraud – but biometrics authentication can thwart sophisticated schemes. In the financial space, companies can use biometrics to control who has access to personal information and card data.
According to the article:
For organizations big and small, voice authentication is now a financially and operationally feasible application of biometrics technology…A voiceprint is distinctive like a thumbprint, but rather than an impression of the lines upon a fingertip being scrutinized, a sophisticated analysis of hundreds of voice characteristics is conducted. An algorithm is applied to break up and map each unique voice identity, which is then stored in an encrypted file. An individual can then be accurately identified and authenticated in real-time by matching particular characteristics of his or her spoken words every time he or she calls.
Not only will there be a significant increase in the adoption of biometrics to safeguard financial transactions, but the technology will also be used to improve everyday events such as turning on lights, starting a car, or buying coffee at Starbucks.
Boukadakis also recently penned a guest article for Paybefore, titled “A Soon-to-Be Must-Have: Biometrics Authentication for Customer Service.” Capturing the identity fraud crisis in numbers, the piece states:
There were more than 12 million identity fraud victims in 2012, and fraudsters stole nearly $21 billion, according to Javelin Strategy & Research. This is about one victim every 3 seconds. Large data breaches provide account and personal information to fraudsters, who then use it to access individuals’ accounts. America leads the world in the number of payment card accounts, including prepaid, that have been breached. Business Insider reports that payment card breaches cost card issuers $3.4 billion in 2012 and merchants another $1.9 billion.
Boukadakis observes that “voice biometrics technology has improved along with the underlying communications channels, reducing the cost of a single authentication to pennies per instance. Compare this to the cost for a customer service representative to authenticate a customer, which could easily be $2.”
As part of an onboarding and authentication system, biometrics can be combined with advanced knowledge-based authentication. Voice biometrics authentication, in particular, is incredibly reliable and shouldn’t be compared or confused with voice recognition. A voiceprint is distinctive like a thumbprint, but even more reliable than fingerprinting with a 99.99 percent success rate. Of interest, fingerprinting can provide misleading results due to contextual bias. Making his case, Boukadakis provides an example of the FBI mistakenly matching a partial fingerprint found on a bag of detonators linked to the March 2004 terrorist bombings in Madrid to Oregon lawyer Brandon Mayfield.
How are customers authenticated with voice biometrics? Using inbound or outbound calling, texts, a mobile application or Web browser. And voice authentication can be integrated with new or existing interactive voice response (IVR) and call center systems. When a customer calls the IVR, he or she can authenticate in real time, or if speaking with a customer service representative (CSR), the CSR can send the customer a text message with a “talk back” link. Alternatively, the cardholder could be connected to a mobile Web browser to authenticate. Because call centers and customer service reps don’t have to repeat account verification or identification questions, 20 percent or more of their time can be saved, resulting in reduced costs and a much-improved customer service experience.
While PINs and other authentication data can be breached, customers’ voices cannot be compromised or stolen. With heightened security concerns and the need for multiple methods of authentication, voice biometrics is one of the best ways to arm your organization against fraud.
Prepaid 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.
Earlier this year, Enacomm was a silver sponsor of Corelation’s 2014 Client Conference in San Diego. Corelation is a financial software company focused on developing an innovative core system with data services that meet the technological needs of credit unions. Not only was Enacomm a vendor at the event, but now we have become a Recognized Vendor of Corelation!
With the new relationship, Corelation will introduce its customers to Enacomm’s intelligent customer interactions technology. According to Enacomm CEO Michael Boukadakis, “Enacomm’s next-generation, customer self-service technology makes it possible for these financial institutions to engage with patrons in a more personal, efficient way.”
Thanks to predictive analytics and an advanced decisioning engine, credit unions’ interactions with members can be tailored to their individual needs. Not only will this better customer service experience improve loyalty and increase member retention, but Enacomm’s self-service and assisted-service solutions, delivered as hosted or on-demand services through the cloud, help credit unions cut costs—as well as organizations throughout the Financial, Prepaid/Cash Card, Health Care and Utilities industries. In fact, did you know that, with a $2.50 price tag, the average assisted-service call costs an organization 20 times as much as the average self-service call?
And it’s not just about saving money; it’s about giving consumers what they want, too. “A growing number of people now prefer the efficiency of customer self-service options over speaking with a live agent,” explained Boukadakis. “To meet this rising demand and stand out from the competition, credit unions can create intelligent interactions across all contact channels, so members can easily complete transactions and get the information they need.”
To deliver the best member service possible, Enacomm’s intelligent self and assisted-service technology complements Corelation’s member-centric system. To learn more, give us a call at 877-860-0025.
The FinTech world is counting down to the leading global event for innovations in money! In nine weeks, Enacomm will be traveling to Money 20/20 to show the payments and financial services industries truly intelligent customer self-service.
The event will take place at the Aria Resort & Casino in Las Vegas, November 2-6. At Booth 707, Enacomm will demonstrate brand new eKBA™ (knowledge-based authentication) mobile onboarding and will unveil a more robust version of ViA® Reporting and Analytics.
Enacomm brings intelligence to customer self-service for GPR and financial organizations across the US – more than a million times a day. Using web, mobile, SMS texts, email, voice and other communication channels, Enacomm enables organizations to offer their customers a superior, multi-modal self-service experience.
Do you want to join Enacomm and the 6,500 expected attendees at Money 20/20? We have a 20 percent discount code for you! Contact firstname.lastname@example.org if you’re interested in going to the show.
From automated customer retention, cross-selling and messaging to knowledge-based authentication, analytics and reporting, Enacomm helps organizations reduce costs and provide an exceptional customer self-service experience. Find out more at our Products/Services page, and follow Enacomm on Twitter using @enacomm to stay in the loop on Money 20/20 updates, Enacomm product releases, industry news and more.
Advanced technology now gives precision new meaning when it comes to reaching consumers. In a Viewpoints feature for Destination CRM—a publication dedicated to information, products, and services relevant to the CRM user marketplace—Enacomm’s David Anderson lays out the benefits of employing a dynamic decisioning engine that enables hypertargeted marketing via customer service channels. Anderson is Chief Marketing Officer of Enacomm and creator of some of the first predictive marketing campaigns in America.
In his piece, “Win Over Consumers with Intelligent, Targeted Marketing,” Anderson explains why organizations shouldn’t throw away their marketing budgets on hit-or-miss efforts and should instead invest in cutting-edge technologies. From the op-ed:
Whether via television, email, or an interactive voice response system, consumers are often exposed to irrelevant messaging from marketing campaigns today. A credit card company sending solicitations every month to someone who already has the credit card being promoted is not only wasting time and money, but is also making itself look less than brilliant.
What is gained by trading in a traditional customer relationship management (CRM) campaign—general messages to all customers—for new technology?
With an advanced decisioning engine, organizations can track and react to consumer behaviors in real time with precise, targeted marketing to micro and macro segments, one customer or one million. Implementing a multimodal solution makes it possible to deliver targeted messages across all available channels, from SMS texts to customer service representatives, and will reflect unified data on the spot. Because communications can be tailored based on demographics or even purchase history, cross-selling, upselling, and retention are improved, thanks to an enhanced customer experience.
Anderson goes on to paint a picture of what intelligent, targeted marketing looks like in action:
A customer pulls up her recent bank account activity with a smartphone app to review pending transactions. Based on her repeated behavior of depositing paychecks at the bank on the last day of every month, an offer is displayed on her screen asking if she’d like to sign up for direct deposit. She is given the option to either tap a button to talk with a customer service representative or click a link to go to the Web for more information. If she accepts the offer, she benefits from added convenience, and the bank strengthens the customer’s connection to its brand. It’s a win-win.
Enacomm can help your organization create a targeted messaging campaign framed by intelligent, personalized interactions that respond to customers’ wants and needs in real time. Contact us at 1-877-860-0025 or email@example.com to find out how the latest self-service and assisted-service technologies can help you build customer loyalty, cut costs and increase revenues.
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 firstname.lastname@example.org.
This week, 1,300 payments industry professionals descended upon Las Vegas for the All Payments Expo (APEX). A partner of the conference, Enacomm hosted a booth where the team shared details on Enacomm’s industry-first solutions utilizing predictive analytics to create intelligent interactions with customers. The team met with both longstanding partners that rely on Enacomm to provide tailored, efficient self-service to their millions of cardholders every day and enjoyed meeting new players in the financial and prepaid industries.
While at the Expo, attendees had the chance to register at Enacomm’s booth to win one of two Microsoft Surface RT tablets. And now, we’re excited to announce our winners: Congratulations, Eric S. of Galileo Processing and Michael P. of Nexis Card!
Until next year, find us at 877-860-0025 or email@example.com. Enacomm can help you cut costs, increase revenues and strengthen customer loyalty and retention with hosted, managed and on-premise IVR solutions, ACD, call recording and CTI; dynamic decisioning for personalization of every customer transaction; automated acquisition and activation; customer relationship management (CRM) solutions; analytics, reporting and monitoring; document capture and processing; loyalty programs; mobile applications; and knowledge-based authentication (KBA).
Evolve your business with Enacomm.
With a focus on product development, marketing communications and market research, David will fuel Enacomm’s continued, industry-leading innovation in the financial and prepaid industries. Driving the creation and launch of new products and analytics, he’ll ensure our partners have a proactive advantage in exceeding customer expectations with intelligent interactions.
David has a rich history in marketing financial services and pioneered some of the first predictive marketing campaigns in America. He is the author of numerous marketing books that are integral parts of university library collections in the United States and around the world. Prior to joining Enacomm, David provided marketing consulting and branding services to multi-billion dollar international companies in a variety of industries. David also worked with a host of financial institutions, ranging from community and mid-sized banks to national banks, investment houses and card companies.
“I am excited to work with such a technically innovative, customer-focused company,” he said. “In addition to developing industry-first products and processes to help companies provide an exceptional customer service experience, we will continue to pioneer new ways to implement the latest technologies across all consumer-facing channels.”
Added Mike Boukadakis, founder and chief executive officer of Enacomm, “David not only has decades of experience in marketing and branding, he intimately understands the needs of the financial and prepaid industries. His track record speaks volumes for the value he brings to Enacomm in support of our continued and future growth in the key markets we serve – financial, prepaid and utilities.”
Where did David start his career? In advertising, where he worked his way up to senior vice president of client services for a large agency. Next, David became vice president of sales and promotions for a national floral wire service. In 1986, he launched his very own marketing firm AMSI, where he served as president. David has been the recipient of numerous awards, including the Bullseye Award and more than 35 ADDY® awards over the course of his career—he’s the perfect addition to our all-star cast!
Beginning this week, you can find David at Enacomm’s headquarters in Tulsa, Oklahoma. Welcome, David! We’re excited to roll out more innovative, industry-first products with your help.
In the February issue of CRM Magazine, the print accompaniment to DestinationCRM.com, a compelling feature for the publication’s “Real ROI” series shows how well-designed IVR solutions can overcome real-world challenges. The article, “IVR Is the Right Prescription for a Native American Health System,” spotlights Enacomm’s partnership with the Muscogee Creek Nation (MCN) Department of Health.
As described in the story’s subhead, Enacomm’s solution for MCN has enabled the organization to overcome spiking call volumes. According to Robert Coffey, chief information officer at the Muscogee Creek Nation Department of Health, “We were just getting inundated with calls. It was an administrative nightmare. It was so much work just for a simple prescription refill.”
But Enacomm has been able to help. From the article:
Thanks to an interactive voice response (IVR) system from Enacomm, Muscogee Creek has been able to tame unmanageable call volumes and voicemails. That IVR solution, which went live about a year ago, now every week processes more than 5,000 prescription refill requests that previously would have been handled manually. The average call covers roughly five prescription medicines, and the system handles each without a hitch, according to Coffey.
MCN in the past also worked with Enacomm on another IVR that it used to help tribe members with diabetes manage their condition and get rewards for certain behaviors known to control the symptoms of diabetes. As described in the article, “Members called in to report steps they took, such as walking for so many minutes a day, and racked up points that could be redeemed for purchases in one of the pharmacies, for example.”
And what’s ahead for the Enacomm-MCN partnership? The Department of Health is now looking to use the IVR as a springboard for other programs. “Among the initiatives underway is the creation of text and smartphone apps for submitting prescription refill requests. Coffey hopes to be able to launch those apps in a few months.”
At the end of the piece, the “Payoff” of the IVR that Enacomm created for the Muscogee Creek Nation Department of Health is summarized:
- fielded more than 5,000 prescription refills per week that would have previously been handled manually;
- saved local pharmacies hundreds of personnel hours each month in voicemail transcribing and data entry; and/p>
- lowered the number of calls that need to be transferred to live pharmacy employees.
To learn more about the functions of Enacomm’s hosted solution for MCN that’s available 24/7, read the article online here.