What Can Companies Do to Mitigate Risk in the Contact Center? [Resource Guide]

mitigate-risk

In today’s online marketplace, large-scale data breaches are all too common (Home Depot and Target are two the come to mind – from the past year alone!). As noted in a Smart Customer Service article, “a medium-sized contact center can get hit with as many as 1,000 fraudulent calls per month that were able to bypass security solutions.”

Fortunately, there are proactive steps call centers can take to protect and safely secure customer data. By adhering to PCI compliance, monitoring the interactions between agents and customers, and providing quality customer service, companies can put themselves in a position to best avoid becoming the victim of a cyber attack.

In previous resource guides, we’ve discussed the importance and benefits of speech analytics, multichannel customer support, and more. Today, we’ll take a look at what companies can do to mitigate risk in the contact center:

Blogs

Speech Analytics for Collections: Why Is It Important?

Call center agents working in collections face a unique set of challenges with potentially serious ramifications. Fortunately, speech analytics solutions can help by analyzing thousands of hours of recorded calls, resulting in improved compliance, increased recovery rates, better agent performance, and more. Here’s a closer look at how. More…  

Is Your Call Data Safe? 5 Questions to Ask Right Now

To ensure the safe handling of information and protect customers against identify theft, PCI compliance is a must. For contact centers, this means implementing advanced data security wherever and however sensitive data is being shared or stored. But how, exactly, do you determine if your customers’ call data is safe? The following is a list of 5 questions to ask yourself right now. More…

3 Data Center Breaches That Could’ve Been Avoided

With consumer information, such as credit card and banking information, mailing and email addresses, user names and passwords, etc., routinely provided over the phone or during online transactions, the safety and security of sensitive cardholder information can be compromised if companies fail to provide proper security and compliance. So what are some of the steps companies can take to protect against fraud and instill customer confidence in the business? Here’s a closer look. More…

5 Keys to PCI Compliance in the Call Center

To ensure the safe handling of information and protect customers against identify theft, the five major credit card companies developed the Payment Card Industry Data Security Standard (PCI DSS) in 2006. For contact centers, this means certain portions of sensitive cardholder information cannot be stored, even in the most secured fashion. So how can call centers remain PCI compliant and instill customer confidence that data is being protected? Here are 5 key ways. More…

Prepare Your Collections Call Center for CFBP Audits with Speech Analytics

In a time when lawsuits, complaints, and CFPB audits are increasing, collections contact centers need to take steps to improve their processes and prove their compliance. Collections contact centers and Accounts Receivables Management (ARM) firms have to maximize payments while still staying compliant and up to date with new rules and regulations, which often proves to be more challenging than expected. Speech analytics helps by analyzing every single agent contact, either during or after the call. The result is lower cost and effort in call center compliance monitoring, faster response times, and ultimately reduction/elimination of fines or lawsuits for non-compliance with Consumer Financial Protection Bureau (CFPB) regulations and the FDCPA. More…

Industry News

Study Reveals Organizations Failing to Protect Consumers from Email Scams

According to a new report from the Online Trust Alliance (OTA), the majority of organizations are not taking the proper precautions to protect consumers from email security breaches. The OTA’s Email Trust Scorecard shows that, of the 800 organizations evaluated, 92% failed, revealing that organizations are leaving consumers susceptible to phishing scams and other deceptive emails. More…

Majority of Consumers Reluctant to Provide Credit Card Data Over Phone

New research from Syntec Telecom reveals that more than half (60%) of consumers are hesitant to pay over the phone when purchasing a product or service. Seventy-five percent of respondents who participated in Syntec Telecom’s 3rd annual tracker survey also indicate that companies should be doing more to prevent credit and debit card fraud. More…

Case Study

Reduce CFPB Compliance Risk and Improve Collections with Speech Analytics

Collections contact centers and Accounts Receivables Management (ARM) firms face a constant challenge: being able to maximize payments while staying compliant and up to date with new rules and regulations. This case study highlights how one ARM firm was able to leverage speech analytics to proactively reduce complaints and prepare for Consumer Financial Protection Bureau (CFPB) audits. More…

Whitepaper

The Delicate Balancing Act: Using Speech Analytics to Optimize Collections and Mitigate Risk

If your collections center is making thousands of calls an hour or a day, how do you know what is happening on collector-debtor interactions? Without listening to every conversation, you don’t. In general, you don’t know what you don’t know. It’s scary but true. With CallMiner Eureka Speech Analytics you can listen to every collector-debtor interaction without listening to every call or reviewing every chat session. More…

Final Thoughts

With large-scale data breaches becoming increasingly commonplace, it’s up to call centers to ensure the safety and security of sensitive customer information.

Stay tuned for additional CallMiner resource guides!

 

 

 

 

 

 

Image Credit: ©iStockphoto.com/DNY59

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