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Consumers Prefer Fraudulent Transactions Alert By Cell Phone: Adeptra Survey
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October 06, 2009

Consumers Prefer Fraudulent Transactions Alert By Cell Phone: Adeptra Survey

By Raja Singh Chaudhary, TMCnet Contributor


Adeptra, a company that offers Auto-resolution technology for automating key call center interactions, that the company’s recent survey found that most consumers in the United States want their credit card issuer to call them on their cell phones to alert them of possible suspicious transactions.

 
Six percent of the consumers who participated in the survey expressed greater faith in their card agency’s ability to prevent fraud while a little less said that they had a greater confidence in fraud prevention over fraud resolution.

The company, which is our specialist in fraud prevention and command conducted the survey in New York City in September 2009, which was aimed at gauging the consumers' preferences and attitudes to card fraud prevention tactics.
 
Roughly 54 percent of the 200 consumers who were surveyed said they would prefer their credit card issuer to contact them by a call to their cell phone when asked how they would like issuers to contact them to flag a potential fraudulent transaction and check its legitimacy.
 
While just 20 percent respondents said they would prefer to be contacted by a call to their landline telephone, and an equal percentage of people opted for email notification. Six percent, however, preferred to be contacted by cell phone text/SMS.
 
The company develops solutions that use virtual agent technology for automatically notifying potential victims of fraud in real-time. These solutions help card issuers and banks cut credit card fraud by up to 50 percent.
 
According to a research, credit card fraud has decreased as a percentage of all ID theft for six years in a row, despite the fact that identity theft is perceived as a major public concern in North America. In general, one in four people surveyed – or 23 percent – have been a victim of credit card fraud.
 
The consumers who participated in the survey will read a lot in terms of awareness of their own finances. Over 10 percent of the respondents checked their credit card and bank statements daily, while 53 percent of them checked statements on a weekly basis. One third of them checked it, on a monthly basis, while three percent of them never checked their statements. The survey found that out of all the consumers who have been a victim of fraud, 15 percent check their statements daily, 57 percent on a weekly and 28 percent on a monthly basis.
 
In July 2008, Adeptra partnered with Chordiant (News - Alert) Software, Inc., a software solutions provider to integrate Adeptra's auto-resolution technology with Chordiant's award-winning Customer Experience software.
 
And, in June, the company announced that its Auto-resolution technology has been used globally to handle more than 15 million account queries, during the financial year ending April 2009.
 
 
 
 
 

Raja Singh Chaudhary is a contributing editor for TMCnet. To read more of Raja's articles, please visit his columnist page.

Edited by Kelly McGuire


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