Bank Improves Fraud Resolution Experience While Reducing Costs
When customers' purchases get flagged for potential fraud, timing is of the essence. Learn how a bank reduced legitimate fraud cases by 25%—while earning a 95% customer satisfaction rating—with its multichannel fraud resolution program.
Summary
The customer
One of the largest banks in the U.S. It offers customers an array of channels to engage with it, as well as a variety of tools report and prevent fraud on their accounts.
The challenge
The bank aimed to give customers a better experience when their purchases were flagged for potential fraud. Too often, it failed to provide customers clear, timely explanations for why their transactions got declined, and these frustrating incidents damaged the customer’s relationship with the bank. The bank sought the capability to proactively flag suspicious charges and provide resolution to cardholders in real time via text message or voice call.
The solution
With CSG's help, the bank used intelligent decisioning based on risk assessment to contact cardholders via voice and/or SMS. Voice calls used speech synthesis and recognition technologies to establish contact and screen transactions.
