The growing ‘trust deficit’ caused by spoof calls was analyzed in a recent CIO-moderated webcast featuring TNS, and IDC’s Research Director for Financial Insights, Sam Abadir.
The panel discussed why enterprises in high touch industries need to tackle the threat of fraudulent calls by bad actors, now more than ever, and looked at new data on the voice fraud challenges faced by financial services organizations.
Topics covered included:
Trust and Anti-Spoof Calling Measures Working Together
Trust is often the first casualty when consumers are deceived by bad actors pretending to call from a financial, hospitality or healthcare provider. When a customer has been on the receiving end of a scam call or robocall, or even lost funds or personal data as a result of this, their willingness to pick up the phone to unidentifiable calls, or believe a caller is legitimate, drops.
The panel looked at how this trust can be re-built and consumer confidence in the voice channel improved, using both best-in-class authentication and branding of calls.
Voice is Integral to Fraud Protection
While enterprises are investing in measures to improve cyber-security, one layer of the fraud protection package that many can overlook is voice.
As organizations move into an increasingly virtual environment, the case for enterprises to ensure all their communications channels, including voice, are secure, is stronger than ever. Businesses need to treat the voice channel as equally critical to the customer digital journey as cyber-security.
The Different Spoof Challenges in Financial Services
Although all banks face significant on-going security and fraud challenges, the webcast revealed recent research that shows that financial services organizations do not always share the same level of concern around different fraud types. With small to medium sized banks often having fewer fraud defenses in place, they can be seen by criminals as easier to target and so report concerns around a differing range of fraud issues to the larger banks.
Register for the Webcast
Find out more on these issues, and learn about:
- The growing trust deficit in voice communications due to call spoofing
- How leading financial institutions are addressing this challenge
- The solutions enterprises can implement to make customer calling safer and more effective
Maurie Munro is Vice President of Enterprise Sales for TNS Communications Market, with responsibility for the TNS Enterprise Product Suite.