Call Center Companies Spend Millions to Prevent Identity Theft

A leading call center industry analyst’s report shows that contact center companies spend over $12 billion every year to determine the right identity of the caller. Identity theft has been on the rise for quite some time now and it is natural for the contact center firms to take preventive measures, but the amount invested in this effort is indeed astonishing.

The report further states that about 2/3rd of all the calls require identity verification. Out of these only a few can be sorted by automated processes and hence the bulk is done by the security questions asked by call center agents. This eats up a lot of valuable agent time. This has resulted in the development of voice verification system. This uses spoken sentence to be converted to a voiceprint which is then compared to the existing records of the caller. The system’s advantage lies in the fact that it is not affected by the caller’s change in health, like cough and cold, or the gradual change in voice through aging.