Authentication: The more factors the merrier?

The digital era we live in opens new opportunities for thieves and fraudsters. This is a known issue. But only when you look at the numbers, you can really understand the scope of this phenomena, and it's huge! The number of fraud attempts is constantly rising, and fraud-related losses tremendously increase year over year. With this, fraud is now one of the main challenges faced by contact center managers. To deal with fraudsters who become more sophisticated every day, you must have an excellent authentication mechanism in place. After all, authentication and fraud are two sides of the same coin.

Voice biometrics is considered the most effective authentication and fraud prevention method for contact centers. No wonder it is adopted widely among contact center experts - while fraudsters can steal your information, password or even your phone number, no one can steal your voice, it is part of your body, your identity, who you are…

Having said that, the "new kid in the block" in the authentication industry these days is MFA – Multi-Factor Authentication. The concept around MFA is that no matter how strong your authentication is, adding further authentication factors adds another barrier for imposters and helps better adhere with regulations. With this rationale, even though voice biometrics is considered the most secure authentication method for contact centers, it makes sense to add more factors and methods to ensure successful customer authentication and prevent fraud in specific cases or scenarios. MFA is usually about the combination of different authentication methods – from a variety of methods that validate the number that you are calling from, through methods that check the device you are using, your location, your voice, and all the way to verifying your identity based on security questions.  

Whether it is due to regulatory pressure (e.g. PSD2, 23 NYCRR 500 etc.), internal organization policies or any other motivation, most contact centers are now looking to combine multiple factors for authentication and fraud prevention purposes. Many contact centers are looking at "phone number validation" which verifies that the number calling the contact center is the consumer's actual number and validates that the consumer is "on a call" in real time. Other factors include "device validation" to validate whether the device used belongs to a real consumer, "behavioral validation" which passively checks the consumer's behavioral pattern against his profile as well as fraudsters' profile and many more.  

There are multiple vendors in the market offering different methods and capabilities for authentication. Well, that's the easy part… but how do you combine all of them in a way that will benefit you the most?!

So you have decided to implement MFA in your contact center, what's next?

You analyzed the benefits and capabilities of different factors, took a decision to implement MFA but there are several questions you need to ask yourself:

  • How do I select the best combination that will result in the best customer experience?
  • How do I integrate all of these factors with each other?
  • How do I know which factor to use for each call scenario? Especially in more complex call scenarios such as "calls made "on behalf" of someone else?
  • What should I do if two or three factors come up with different results for the same call? For example, the "phone number validation" authenticates the caller but voice biometrics fails him/her.  
  • Which factor will be the most cost-effective for me, per call? Especially considering that some of the factors have an associated cost per authentication and some rely on a license model.  

This is where we come into the picture… with NICE Real-Time Authentication (RTA)!

NICE RTA is the leading solution for PASSIVE AUTHENTICATION. Not only do we provide the most reliable voice biometrics authentication, RTA offers the full MFA stack, while keeping it passive and seamless to consumers.

Build on the principles of "Passive" for maximum CX and high enrollment rates, RTA combines multiple factors from different authentication methods, and uses its state-of-the-art decision engine to select the most suitable factor(s) for each call scenario considering risk levels, business data, cost and CX.

Ultimately, RTA enables you to let the good guys in, keep the bad guys out, and does all this with ZERO customer's effort!

For additional information please visit our webpage.   

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