24th  July  2007

ContactBabel and VoiceVault Announce New U.S. Contact Center Report

Agents' Time Spent Checking Callers' Identities in 2007

Burlington MA, July 24th- VoiceVault, the leader in voice-based biometric identity verification, and ContactBabel, contact center industry analysts, today announced findings from the annual U.S. Contact Center Operational Review 2007, based on a study of the performance, operations, technology and HR aspects of 204 U.S. contact center operations.

The research, sponsored by VoiceVault, found that despite the growth in the use of Internet based services, the popularity of contact centers continues to increase, presenting a challenge for businesses to keep contact center costs down while continuing to improve the customer experience and protect their customers' private and personal information.

Businesses have had to tighten security and show their customers they are implementing stronger methods of identity theft and fraud prevention to protect their brands and maintain customer loyalty. The research found that of the 43 billion calls that US contact centers will receive in 2007; 41 percent will involve a contact center agent asking identity verification questions at the beginning of the call. Although this process only takes between 20 and 30 seconds to complete, the U.S. contact center industry will spend $11.7 billion and more than 11,000 years of contact center agents' time in 2007 alone checking callers' identities.

"Consumers don't like or trust existing methods of identity verification such as PINs and passwords and they don't measure up to security regulations," said Steve Morrell, principal analyst at ContactBabel. "To maintain their competitive advantage, contact centers need to rethink their identity verification strategy and implement a process that delivers a better customer experience, security that is auditable and compliant with regulations, and realize cost savings." 

The report highlights that biometric technology will be a key to successful identity verification. Voice verification systems, the only biometric technology that can be used over the phone, are now delivering levels of accuracy and security that have proven robust enough for use by banks and insurers. Voice verification can be combined with the answer to a memorable question in cases where a two-factor authentication process is required.

The report shows that implementing a voice verification system in a contact center receiving 10 million inbound calls per year with existing identity verification procedures taking on average 20 seconds could save $6.5 million each year. For procedures such as Internet password resetting, the higher level of security achieved with voice verification enables businesses to offer real-time password resets or reminders reducing up to 70 percent of helpdesk calls.

"Voice verification has the advantages of near-ubiquity, improves levels of security and reduces costs," said Julia Webb, Executive Vice President at VoiceVault. "It is also incredibly customer friendly as PINS and passwords can be replaced by just speaking a few words."

The U.S. Contact Center Operational Review 2007 is divided into seventeen separate sections each detailing a segment of the call center industry including Speech Technology, CRM, Outsourcing, Salaries and Recruitment, and many other HR, technological and business process areas. Each section contains analysis of the survey data and comprehensive statistics. Contact center managers and directors, representing a random sample of the industry, were asked a series of questions between March and May 2007 for this report. Analysis of the data was carried out in May and June 2007. The full report is available at www.voicevault.com and www.contactbabel.com.

About VoiceVault

VoiceVault is a specialist and leader in the provision of voice-based biometric identity verification solutions and services. With operations in the United States, United Kingdom and Ireland, the company has a global customer base of public and private organizations, such as government agencies, banks and insurers. VoiceVault is the only voice verification service certified and accredited to issue Advanced Electronic Signatures (voice digital certificates) and to be ISO 27001 rated.

VoiceVault provides a more convenient, practical and secure alternative to PINs, passwords or security tokens. As well as verifying an individual's identity over the phone or the Internet, VoiceVault can be employed across a diverse range of business applications, including procurement, payment authorization and corporate security. Organizations that deploy VoiceVault can deliver enhanced levels of service to their customers, increase security while optimizing identity verification costs. For more information, visit   www.voicevault.com .

About ContactBabel

ContactBabel provides insightful data and insight into the contact center industry through massive and ongoing primary research projects, which is matched by its experience in analyzing the contact center industry. ContactBabel understands how technology, people and process best fit together, and how they will work collectively in the future.

ContactBabel has helped the biggest and most successful vendors develop their contact center strategies and talk to the right prospects. It has shown the U.K. government how the contact center industry will develop and change. It helps contact centers compare themselves to their closest competitors so they can understand what they are doing well and what needs to improve. For more information, visit www.contactbabel.com.

For media inquiries, please contact:

Erin Roche

Weber Shandwick U.S.

+1 212 445 8351

eroche@webershandwick.com

Cyril  Moloney

Weber Shandwick U.K.

+44 20 70670432

cmoloney@webershandwick.com