Transform Your Customer Experience During Fraud Events with CSG Xponent
Common Challenges
Financial institutions face a constant challenge: ensuring robust fraud detection during an effortless customer experience (CX). Customers rely on your brand to communicate when it matters most, like providing potential fraud alerts.
Traditional methods often trigger frustration:
Cancelled cards, angry customers: Declined cards and slow problem resolution strand customers, leading to negative, embarrassing experiences and churn.
Contact center chaos: Untimely fraud alerts instigate calls that overwhelm agents, causing long wait times and frustrated customers.
Lost revenue: Declined legitimate transactions result in lost sales and decreased customer spending.
Proven Results
How CSG Xponent Can Fix This
Xponent connects easily with your existing systems to streamline the fraud notification experience, all while prioritizing security.
Real-time, personalized communication: Xponent triggers instant two-way communication (voice, SMS, email) upon detecting potential fraud, prioritizing the fastest response channel based on individual customer preferences and alerting the customer “in the moment” of a point-of-sale decline.
Contextual agent interactions: Agents receive real-time information about potential fraud, enabling faster resolution and delivering better CX.
Suppressed marketing: Customers who receive a fraud alert are automatically removed from marketing campaigns to avoid further frustration and conflicting messages.
Banks using Xponent have achieved significant improvements:
Increased revenue: Improved transaction approvals lead to higher customer spending; one global bank saw its true fraud instances drop by 25% with streamlined customer communications.
Improved retention: Customers are more loyal when fraud concerns are promptly addressed, resulting in higher brand trust
Reduced contact center load: Fewer unnecessary fraud alerts free up agents and decreased contact rate. One global bank saw a 12% decrease in number of calls relating to fraud, saving $10M annually.
Xponent: The Platform to Help You Simplify Fraud Management
Don't let security risks compromise your customer experience. CSG Xponent simplifies the fraud notification journey for the cardholder experience with an industry-leading journey orchestration engine, protecting your assets while fostering longterm customer satisfaction.
Let’s discuss how Xponent can improve your fraud management and build long-term customer loyalty.