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BizReport : Advertising archives : November 19, 2019

Study: Americans feel fraud risk when calling custome r service

Two new reports highlight an issue for brands and customer service: the potential for an fear of fraud. First, from new data out from Sitel and CallMiner, a majority of Americans feel their personal information is 'at risk' when they make calls to customer service.

by Kristina Knight

Nearly three-quarters (71%) of Americans say they feel they are risk of fraud when calling in for customer service support. And half (55%) say they would 'stop doing business' with a brand if they learned brands weren't using AI to help detect fraudulent activity on their account.

What's the risk of calling customer service? According to the report many fear the personal information they have to give over the phone will be stolen. For this reason, according to some experts, businesses and merchants need to go further in their efforts to protect consumer privacy.

"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, CTO and co-founder at 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."
Additional findings from the study include:

• 47% of consumers say using social media for customer service is the 'most risky'
• 7 in 10 have questioned customer service reps about why certain information was required
• 52% believe banks and financial services are where there is the most fraud risk
• 65% say they 'are not comfortable' using a voice assistant to make purchases

More data from Sitel and CallMiner's Preventing Fraud & Preserving CX report can be accessed here

Meanwhile, data from Acquia finds that 61% of consumers do not believe that businesses 'have their best interests at heart' in regards to how they use, share, or store consumers' personal data. Their data links customer service with experience, noting that only 10% of consumers believe they receive a 'good experience' from customer service. Their data also found that most (72%) would 'move on from' a brand after a single bad experience.

"Customers have made their demands clear, and now is the time for marketing organizations to respond to those challenges," said Lynne Capozzi, Acquia CMO. "Brands must focus on innovating where it drives the most value and being able to show wins along the way--and the data shows that the only way to meet those customer expectations is by developing a personalization practice. Smart marketers see the trends and are planning and executing an open approach that offers personalization while addressing data privacy concerns to drive customer loyalty."

More from Acquia's Deliver the CX They Expect: Customer Service Trends can be found here.

Tags: Acquia, advertising, customer service, data fraud, ecommerce fraud, personal data, Sitel

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