VyStar Credit Union reduces fraud with Verint
VyStar Credit Union, the largest credit Union in North East Florida, recently built on its relationship with Verint Systems Inc. The continued collaboration with Verint allows VyStar to enhance and upgrade their security strategies when protecting member information in the VyStar contact centre. According to a recent press release, VyStar will be using Verint Fraud Detection and Identity Authentication to protect member identity and reduce operational costs, while boosting the overall experience for more than 655,000 customers.
As criminals continue to focus their attacks on contact centres, seeking vulnerable entry points to consumer information, it’s more important than ever for financial services companies to have the right plans in place. VyStar currently deploys multiple protection layers with the help of Verint, starting with adaptive fraud analytics. The fraud analytics features offer real-time analysis of potential threats before a call ever reaches an agent.
According to the SVP of Payments and Operations for VyStar Credit Union, Melissa Thomas, fraud situations can be highly emotional events that either destroys or improves member trust. Advanced and automated fraud detection solutions from Verint will help the VyStar fraud department to improve their performance accuracy and save more time. The Verint solutions take extra pressure off employees by allowing them to access proactive fraud indicators in real-time, stopping fraud activity before it begins.
Verint Identity Authentication is part of a complete Fraud detection offering from Verint’s Customer Engagement portfolio. The solution analyses telephony and self-services behavioural data, gathering unique patterns to give insights into the nature of a potentially fraudulent event. Once a call gets through to a live agent, the voice can be analysed even further using the embedded voice biometrics from Verint. This helps to define customers either as legitimate or fraudulent.
The new security implementations from Verint will help VyStar to minimise their fraud losses, reduce the amount of time spent authenticating members, and keep operational costs to a minimum.
According to the COO of VyStar, Chad Meadows, the company is excited about the wide range of solutions and expertise that Verint brings to the table with its fraud detection and identity analysis offerings. The VyStar brand is thrilled to be working with Verint, as they believe that the company understands their business, and is focused on providing them with quantifiable results across various touchpoints.
The SVP and general manager of Verint, John Goodson, noted that Verint’s Branch Security offerings have been supporting the VyStar brand since 2015. Today, Verint is thrilled to see that VyStar is extending its partnership with the Verint team to fight back against potential contact centre fraud. As well as purchasing Identity Authentication and Fraud Detection from Verint, VyStar has also invested in various other tools.
Some of the new features that VyStar has invested in recently include Enterprise Feedback Management, Speech Analytics, Desktop and Process Analytics, and Automated Quality Management tools.