Business Reporter: How to Effectively Combat Online Fraud in Higher Value Customer Acquisition and Service

LONDON, Dec. 18, 2019 /PRNewswire/ -- The next generation of digital business automation technologies enables advisors across many regulated sectors to compliantly engage and acquire customers without travel for either. This is an area that has long perplexed many organisations who offer higher value or complex products and services.

The internet can lack the reassurance of personal interaction, especially when making large transactions, forcing users to be extremely vigilant. But too often customers rely on the organisations serving them, who themselves need better solutions to manage fraud whilst enabling routine online activities. 

In its Business Reporter Masterclass, Icon UK emphasises the importance of balancing fraud   prevention, customer acquisition and efficiency technologies in customer onboarding, sales and service processes. "Government and police statistics show that fraud and cyber-crime now exceed all other crime put together, with no sign of it diminishing," says Managing Director Chris Jones.

One of the most complex challenges for organisations, explains Jones, is combatting fraud without frustrating customers. But there are solutions – and online smart meetings with full collaboration and identity verification capabilities within a single platform is one.

Cyber-crime defences are becoming normalised and re-imagined, such as using biometric identification within web-meeting processes to help defend against fraud, allowing business transactions to run smoothly and safely:

• Fraudsters will no longer be able to be anonymous online with facial recognition in web-video meetings
• Recording these meetings acts as a deterrent, as does the knowledge that the video becomes a permanent piece of evidence
• Document validity and identity checks in real-time, every time, will help to block fraud at source.

"We must re-humanise but re-equip our processes for a digital age," Jones says. In this way, progressing the transition "from paper to end-to-end electronic processes" could actually prove to be more secure. A better customer experience at low risk and cost simultaneously, for regulated businesses from investments, loans, and mortgages to healthcare and telecoms. 

Ultimately, integrated ID validation, certification and assurance is a successful way of stopping online scams. It can detect impersonation and misrepresentation in seconds, and protect those making genuine transactions. Such cornerstones of digital business help anchor over a dozen necessary core improvement capabilities both safely and conveniently. Transforming digital business no longer needs to be piecemeal or unbalance the organisation's equilibrium.

To learn about how the next generation of digital business automation technologies, including identity verification, can combat online fraud for profitable business faster, read the full article here.

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About Icon UK Ltd

Icon UK provides information technology services and consulting devoted to transforming customer-centric conversations.

It has a range of software products and SaaS capabilities enabling its clients to transform their business processes, in order to improve organisational capability, efficiency and customer satisfaction.

Some of Icon UK's management solutions include online Smart Meetings, Business Process Automation, Customer Communications Management and a suite of e-Signing Solutions. 

https://www.icon-uk.net/Fraud_Control_in_Complex_Services.html

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SOURCE Business Reporter