The safeguarding of user data is the foundation of public trust in the U.S. banking system. So much so that “bank-level security” has become ubiquitous when describing the highest level of data safety. But in the battle against fraud, sophisticated fraud attacks and easier access to personal data has continued to test every weak point, stressing financial institutions of all sizes.
Many banks and credit unions have reacted by adding extraneous Identify Verification (IDV) steps like secret phrases or “out-of-wallet” questions – many of which are also susceptible to social engineering. At best, they add a minimal layer of additional security in exchange for a poor experience for your users and support staff. Specifically, calling to get help with a simple but high-risk task like updating an email or phone number often turns into a lengthy and tedious back-and-forth.
To address this pain point, we’re excited to announce Offline Verification as a fast and secure way to instantly authenticate your users. Now when someone calls in for help, your support staff can satisfy a wide range of IDV requirements without sacrificing customer satisfaction. Offline Verification works by sending a caller a one-time support code via SMS or push notification that they read back to the support agent – verifying their identity and clearing the way to address their needs. The result is faster support times and improved user satisfaction, all while eliminating risk.
With offline verification, identity verification is made quick and easy for both the end-user & support staff.
Shorter support times result in happier users and higher engagement with your financial institution.
By leveraging the user’s phone, you can quickly and securely verify a person’s identity with a higher degree of certainty.
Offline Verification is the latest step in our dedication to keeping the personal information of our customer’s end-users safe and secure.
Download the Offline Verification Overview to learn more, and book a discovery call to chat with our team about how your financial institution can benefit from this new feature.