Brits wary of bank call centre security

Brits wary of bank call centre security

Britons have little faith in the ability of banks to look after their personal information, with call centres seen as a particularly weak link in the security chain.

According to a poll of 2000 people, commissioned by vendors Avaya and Sabio, 46% suspect high level breaches of security at financial institutions, compared to 40% for mobile phone companies and 37% for retailers.

The concerns about fraud also appear to have a big impact on customer behaviour - when a payment card is lost or stolen, over half of people say they stop using their accounts and a fifth of those quizzed have switched bank in this situation.

The biggest security risk is seen to come from the call centre, with 45% of respondents citing this as the starting point for fraud.

This is in part because only five per cent think that sharing card details with a human agent is secure. In contrast 81% would feel more comfortable entering a password on a keypad to confirm their identity when calling, and 51% are happy to use the relatively uncommon technology of voice biometrics for banking.

Despite recognising the need for security, Brits regard many checks as cumbersome and outdated and are frustrated by both the speed and quality of the customer service experience.

More than half say that they are irritated by companies that do not have a fully integrated call centre, forcing them to repeat security information on a call, and a similar percentage says they are put off using a provider if there are too many passwords and security details needed.

Simon Culmer, MD, UK, Avaya, says: "Consumers' contradictory attitudes leave businesses stuck between a rock and a hard place. By focussing on the three 'S' - service, speed and security - brands can improve customer lifetime value, strengthen security and increase brand loyalty. Consumer trust in technology is key."

Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 13 March, 2013, 16:43Be the first to give this comment the thumbs up 0 likes

Banks can do a lot more to reduce friction in their applications before pointing a finger at "consumers' contradictory attitudes".