Deploying Knowledge-Based Authentication to Increase Revenue and Bolster Security

Many companies are driving sales and service to lower-cost channels, such as the Internet and the call center, to reduce operational costs, increase productivity and enhance customer satisfaction. Despite its many advantages, remote commerce also comes with an increased risk of fraud and identity theft. Businesses must provide strong authentication to protect customer activity in remote channels without impeding on their experience or privacy. Establishing the identity of users across multiple channels is essential so that organizations can reliably and efficiently conduct business via websites, call centers, IVR systems, and Point-Of-Sale (POS) locations. There are several methods of authenticating users, but Knowledge-Based Authentication (KBA) is an emerging technology for supporting customer demands for real-time, self-service options.