We are addicted to our phones from the time we wake up until we go to bed — and apparently, even after that. According to recent reports:
- One in three UK adults – and half of 18-24 year olds – said they checked their phones in the middle of the night, with instant messaging and social media the most popular activities
- One in 10 smartphone owners admitted reaching for their phone as soon as they woke up – with a third grabbing the device within five minutes of waking.
Given this, the best way to contact a customer is clearly by phone, particularly the smartphone as it has a range of channels available on a single device. This would also be the ideal way to quickly alert a customer to a potential fraudulent transaction.
But this raises a critical question: How secure are the channels of communication with each customer?
Not only can a fraudster simply impersonate a genuine customer on the phone, they can also spoof a number to respond to an SMS, ‘take over’ a phone by activating a new SIM to that number, or remotely place a call forward on a phone, to name but a few types of fraud.
It’s imperative that if these are the chosen channels of communication, they are secure to ensure the right person is being contacted. FICO Customer Communication Services (CCS) have a range of communication channels with additional capabilities designed to protect the customer from fraud. These include securing the SMS channel from SIM swap fraud and detecting call forward; a more secure channel in the use of push notifications; additional fraud capabilities on the voice channel; plus other channels available. If any of these channels are compromised, FICO CCS has the ability to seamlessly switch to an alternative, or preferred channel, with no impact to the customer experience.
The last thing you want is for your fraud alerts to be hijacked. For more on this topic, see my post Are Your Fraud Alert Replies Being Spoofed?