Knowledge-based Authentication and Interactive Voice Response Systems

In light of today's cost control pressures associated with the economic environment and the continued rise in identity theft, it is more important and effective than ever for financial institutions to incorporate knowledge-based authentication into existing processes. Combining knowledge-based authentication with interactive voice response (IVR) systems provides consumers with a quick, convenient and highly secure authentication technique available anywhere and anytime. Generating automated authentication questions through IVR significantly reduces the need for supporting manual operations and resources in verifying a consumer's identity in a call center environment. By utilizing automated business processes for both fulfillment and authentication, organizations can realize significant cost savings and provide a positive customer experience, all while mitigating fraud risk.