Next week’s Did You Know? topic:
How to reverse the trend of lack of trust in the customer experience.
Interested in receiving Did You Know? emails in your inbox? Sign up here.
PYMNTS explored this question in an article this week that focused on how enterprises can thwart fraud and improve the customer experience by breaking down organizational silos, or the walls between departments that become obstacles to sharing knowledge or accomplishing goals. The post, which quoted David Barnhardt, executive vice president of product at GIACT, touched upon several points that we think are worth summarizing for anyone interested in optimizing their company’s identity authentication and digital trust framework and not surrendering the customer experience to fraudsters:
In the grand scheme of things, all of these considerations will lead to higher customer satisfaction and engagement by offering customers a secure, seamless and end-to-end experience rather than just one-and-done transactions.
So how do your identity authentication processes and experiences stack up? Do they tick these boxes?
☐ Persistent: Do they create a unique and persistent identity token for each customer that allows for continuous identification across business units and channels?
☐ Private: Do they protect your customers’ data privacy by replacing their personal information with an anonymous encrypted token?
☐ Passive: Do they allow for a fast, frictionless and fraud-free customer experience where the customer does not need to take any action (such as typing in an SMS passcode or answering knowledge-based security questions)?
☐ Pervasive: Do they start with your marketing team and touch every functional team in your organization?
For the full article, visit PYMNTS
Payfone held our very first ‘Wine & Time” Executive Experience last week in Atlanta. The event, held at City Winery in the popular Ponce City Market complex, was a great success, and was well-attended by Atlanta-area executives interested in learning how time and trust are the new KPIs reshuffling the Fortune 500. The evening was filled with delicious food, lively conversation about creating fast, frictionless and fraud-free experiences, and, of course, free-flowing bottles of excellent wine!
The event was held at City Winery, a unique bar and restaurant with an on-site winery.
The evening began in the “Den” where attendees heard from 2-time TEDx-speaker and Olympic Silver medalist John K. Coyle (‘The Time Guy’) about the science behind how humans perceive time, and how brands can apply that science to vastly improve the customer experience. John drew the crowd in with a vivid story about his Olympic speed skating days, and then touched upon how mere milliseconds can decide the difference between winners and losers – whether you’re competing in sports or in business.
Rodger Desai, Payfone’s Founder and CEO, and Kathleen Waid, Payfone Senior Vice President of New Business, gave guests an overview of Payfone’s mission of allowing brands to take back their customer experiences from fraudsters by delivering digital trust through our Trust Platform™ and Trust Score™.
Afterwards, attendees spread out into the Den landing and had the chance to receive their own personal Trust Scores from Atlanta-based Sales Engineer Caitlyn Livingston to see how the technology works.
Every attendee went home with a personal gift and a signed copy of John K. Coyle’s book, Design for Strengths.
Thank you to everyone who attended! It was an immense success and now we’re busy planning our next ‘Wine & Time’ event.
BARCELONA (February 14, 2019) – Payfone, the world’s leading digital identity authentication provider, and the GSMA, a trade body representing mobile network operators worldwide, announced today a new partnership to bring fast, frictionless and fraud-free login experiences to companies and their consumers in Spain. Payfone and the GSMA’s Mobile Connect authentication technology fulfill the need for enterprises in Spain to engage more effectively with their customers. Payfone’s award-winning Trust Platform and Trust Score™ replace cumbersome and hackable identity verification processes such as passwords, knowledge-based security questions and SMS one-time passcodes with instant, invisible, and zero-knowledge digital authentication. The deal marks another major milestone for Payfone as it continues its expansion into 35 global markets.
The key ingredient to enabling the best possible digital experiences is eliminating the real-time Trust Gap, the difference between the >95% of consumers who can be green-lighted through a VIP customer experience and the <5% of consumers who require further authentication to confirm that they are who they claim to be. Payfone eliminates this Trust Gap and creates a VIP express lane experience for trustworthy logins through our patented Trust Platform and Trust Score. The Trust Score answers the question ‘Is this customer who they claim to be?’
“Companies around the globe realize that there is no longer a need to trade off great digital experiences for fraud prevention,”said Rodger Desai, Chief Executive Officer of Payfone. “Winning businesses will be differentiated by delivering experiences that not only engage customers and drive long-term loyalty, but save on OpEx by eliminating unnecessary intervention processes.” Desai continued,”We are thrilled to partner with the GSMA and Mobile Connect to bring our advanced Trust capabilities to Spanish enterprises, who can leverage them to give their customers a safer and more convenient way to log in while competing more effectively.”
“With Mobile Connect, the mobile industry is fulfilling an important role in the digital identity space, giving users control over their own data and enabling consumers, businesses, and governments alike to interact and access online services in a convenient, private and trusted environment,” said Alex Sinclair, Chief Technology Officer of the GSMA.
Payfone and Mobile Connect’s secure, frictionless authentication technology will be available to Spanish enterprises in mid-February 2019.
Payfone is the world’s leading digital identity authentication network. Our award-winning next-generation Trust Platform validates identities and enables enterprises to deliver fast, frictionless, and fraud-free customer experiences to over 90% of their customers. Payfone closes the Trust Gap and issues a real-time proprietary Trust Score™ for 6 of the top 10 financial institutions, and leading healthcare, insurance, technology and retail companies. Learn more at payfone.com and linkedin.com/company/payfone.