Expensive, inconvenient and not particularly effective.

A staggering $10 billion per year is spent by contact centres in the USA on PINS and passwords according to a new report written by Contact Babel - the leading independent researchers within the contact centre industry.  In the UK, the amount spent reaches £820m.

The report looks at how the drive to protect against identity theft and fraud has resulted in processes that are largely ineffective, costly and highly inconvenient for customers.

Key Findings

• Inbound calling to contact centres is set to reach 47billion minutes per annum in UK and 266 billion minutes per annum in USA in 2006

• Use of complex identity verification processes are being driven by need to protect customer's information, regulation, fraud prevention and brand protection

• UK contact centres now spend £820m each year on agent based identity verification, with almost $10bn being spent in the US each year

• Existing processes used are not particularly secure, and often inconvenient for customers

• Emergence of voice biometric technologies for identity verification has the potential to improve the customer experience, reduce costs and enhance security

• A 1,000 seat contact centre could save £1.4 million per year if identity verification was automated.

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