Is it possible to minimise friction while maximising protection?
According to UK Finance, in 2022 £1.2bn was lost by UK consumers to fraud. Every contact centre must implement security measures to identify and protect genuine customers, and flag potentially fraudulent attempts to access customer accounts. Most authentication methods currently in use necessitate a certain amount of ‘friction’ that impacts the experience not only for customers but also the front line. Friction in authentication increases handle times, reducing productivity.
Minimising journey friction is one of the sacred mantras of customer and colleague experience, but the most frictionless method on offer (no authentication at all) is not an option. And even the best authentication cannot defend against sophisticated scams that persuade genuine customers to hand over money.
To understand how fraud is evolving and what contact centres are doing to stay ahead of fraudsters, CCMA conducted this research supported by Smartnumbers, which gathers perspectives from both industry leaders and from consumers.
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