In 2020, COVID-19 accelerated digital transformations that were expected to take several years. This article explores three ways that consumer trust in communications will evolve in 2021: mobile numbers will become your ID, the notion of privacy will get even more fluid and businesses can expect to face an identity crisis.
Identity theft is at an all-time high and in 2019 alone, fraud losses grew 15% to $16.9 billion. As the most used personal identifier for consumer account management, the mobile phone number is increasingly becoming an important factor to help organizations mitigate fraud and assess risk. This is especially true when initiating financial transactions where businesses are increasingly relying on mobile devices for second-factor authentication access. In addition, 833,000 porting and pooling transactions are made each day in the U.S. alone, which makes number porting data another key tool being utilized to authenticate the identity of consumers.
All Together Now: Why and How Service Providers, Vendors and Regulators are Joining Forces to Thwart Caller ID Spoofing
Most forms of communications fraud have one thing in common: They exploit trust. Take callerID, for instance. History has shown that when callerID information is compromised, communications spam, scams and spoofing soars. Learn more about how the industry is working together to effectively mitigate fraud across voice calls , text messages and chatbot conversations.
Between voice calls, text messages and chatbots, businesses have more opportunities than ever to interact with consumers. Unfortunately, fraudsters do too. Read more about how the industry is working collaboratively to eradicate these fraudulent attacks on consumers not only by keeping the bad actors out, but also by preventing a handful of messaging aggregators who are allowing the delivery of suspect and fraudulent traffic.
Chat functions have become a key pillar of customer contact centers. People are accustomed to the convenience of instant messaging their friends, family and colleagues, which led to a natural transition to texting with brands.
Voice calls, text messages and chatbots have made business-to-consumer (B2C) engagement more accessible, robust and efficient. Now, the next generation of business messaging with exciting new features has arrived through Rich Communication Services (RCS).
An average of 60 billion illegal robocalls are made each year in the United States alone resulting in nearly $10 billion of financial impact.
Throughout the global pandemic, business text messaging has become increasingly integral to contacting customers. Texting boasts a 98% open rate compared to 22% for email, which is not surprising, since texting is traditionally considered virtually spam free.
As COVID-19 cases continued to rise worldwide, technology followed suit with many industries, including healthcare, amplifying their usage.