According to new findings in a report by Sitel Group and CallMiner, almost half of Americans have been a victim of fraud, and 92 percent believe the risk of fraud has increased in our daily activities. Just over half of respondents think the banking and financial services industry is most susceptible to customer service fraud, followed by the retail industry at 30 percent.
The report found that more than 80 percent of Americans believe “brands could do more to prevent customer service fraud” and 25 percent do not trust that brands are handling personal information in a secure way. And while consumers said they were most comfortable contacting a brand with a phone call, 71 percent worry that the personal information captured on call recordings could put them at risk for fraud.
“With the advancements in AI and speech technology that we’ve encountered in the past few years, fraud monitoring has vastly improved,” said Jeff Gallino, chief technology officer and cofounder of CallMiner. “While Americans understand the importance of fraud monitoring, it’s now time for brands to go a step further and better communicate to customers how fraud monitoring is implemented into the system to protect them.”
While the report found that Americans are still skeptical of voice assistants for customer service, findings showed more than half of respondents said they would stop doing business with a brand if “they found out the brand didn’t use technology such as AI to monitor for fraudulent activity on accounts.” Additionally, 18 percent of respondents, said they have used a smart assistant, like Amazon Alexa, to call a customer support phone number.
Cris Kuehl, vice president, analytics and client insights at Sitel Group, said with a third of consumers feeling at risk for fraud during a customer service call, “it’s important that brands utilize the appropriate technology and data insights to train customer service agents. When an agent can better explain why they need personal information from a customer it mitigates security fears and creates a better experience.”
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