New TNS eBook: Financial Firms Invest in Digital Transformation to Protect Customers from Robocall Scams - June 06, 2024

New TNS eBook: Financial Firms Invest in Digital Transformation to Protect Customers from Robocall Scams

Thursday, June 06, 2024

View Showroom

Company: Transaction Network Services (TNS Inc)

Transaction Network Services (TNS) today released a new eBook, “Digital Transformation Trends for Financial Services Contact Centers”. The eBook examines how financial services contact centers and their outsourced contact center service providers are modernizing and securing the voice channel through authenticated and branded calls, spoof protection and data-driven insights to protect customers from robocall bad actors and to improve operations.

The onslaught of unwanted robocalls has disrupted the voice channel with extremely serious consequences. In 2023, consumers reported losing $4.6 billion to investment scams, more than any other scam category. Americans also lost another $2.7 billion to imposter scams. The fallout has caused US adults to demand increased protection from financial institutions: 92% of consumers believe financial services organizations should be taking all measures available to protect customers, according to TNS survey data.

“With consumers calling for more protection from their bank and financial services provider, contact centers operating in these verticals are aggressively seeking solutions that secure the voice channel so bad actors are unable to launch robocall scam campaigns against consumers,” said Denny Randolph, President of TNS Communications Market. “Our new eBook, based on 30 years’ experience in call identification, lays out the most common challenges facing the financial services industry and identifies digital transformation trends being used to enhance financial services contact center operations.”

The eBook highlights a selection of digital transformation trends for financial services contact centers including:

Protecting Customers and Fraud Prevention

According to the Federal Trade Commission, consumers reported more than $10 billion lost to fraud in 2023, an all-time high and a 14% increase over reported losses in 2022. Fraud victims are not just consumers. Bad actors also target businesses with impersonation scams that negatively impact brand reputation. Too often, companies are unaware they have been spoofed until it is too late and penalties are levied.

Call authentication solutions like TNS Enterprise Authentication and Spoof Protection ensure that only verified branded calls reach customers. With this technology, a brand can block in real time non-authenticated calls made by bad actors spoofing the brand’s telephone number, helping to eliminate the threat of potential fraud.

Brand Recognition

Potential clients and customers often express initial interest in a financial firm’s services through the web, email, or social media and provide their contact information. However, when an agent tries to contact them, the prospect often fails to answer due to lack of information about the call. This makes it challenging for any business that relies on voice calling to engage customers and prospects promptly and effectively.

Award-winning branded calling solutions like TNS Enterprise Branded Calling present rich call information on incoming call screens to facilitate easier brand recognition for customers. According to survey data, customers are also looking for better voice channel engagement: 77% of Americans would answer a call from their bank if the brand logo/name were displayed on their incoming call screen.

Leveraging Data

The most efficient financial services contact centers leverage years of calling behavior and data insights to help call agents meet KPIs and engage customers successfully. Reporting tools, such as Telephone Number Reputation Monitoring and TN Insights, deliver critical intelligence into customer calling preferences, help maintain accurate reputation scores for brand numbers and offer access to real-time scoring and crowd-sourced feedback to identify spoofing issues quickly.

To download the eBook in full, visit

Additional Resources from Transaction Network Services (TNS Inc)

Transaction Network Services (TNS Inc) White Papers
Transaction Network Services (TNS Inc) Press Releases / Blog Posts

Global Sponsor - Prosegur
Global Sponsor - Diebold Nixdorf
Global Sponsor - KAL
Global Sponsor - PAI
Global Sponsor - Euronet Worldwide
Global Sponsor - DPL
Global Sponsor - Auriga
Global Sponsor - FIS
Become a Global Sponsor
In This Section
Coronavirus Member Blogs
Special Offer Image ATM Security Association Image

Global Sponsors