Daon Blog Team
[CASE STUDY]: Target Professional Services

Discover how pension providers are leveraging biometrics and a user-friendly mobile app, mypensionID, to transform the efficiency of customer communications. 

mypensionID Blog


THE CHALLENGE

GDPR requires pension schemes to keep member data updated and to cease payments promptly when beneficiaries pass away. In addition, Target Professional Services, a UK firm specializing in data verification, needed an easier way for schemes to maintain communications with members, and for members to view all their pensions in one place.

THE SOLUTION

Working with IdentityX, Target developed mypensionID: an innovative app that incorporates Daon's best-of-breed biometrics technology. The app makes it simple and secure for pension schemes to onboard their customers, confirm liveness, and open a two-way digital communications channel for the first time.

MARKET REACTION

One of the UK's largest pension schemes is using mypensionID and two further schemes are in pilot, reflecting the industry's demand for a better means of communications than traditional post and email. Payments to deceased beneficiaries remain a billion-pound problem in the UK, and the app makes it faster and easier for schemes to conduct annual liveness checks with members and maintain up-to-date, GDPR-compliant member details.

TRANSFORMING THE PENSIONS INDUSTRY

Looking to the future, the app could allow liveness checks to be done monthly, instead of annually, representing a significant financial benefit by allowing payments to deceased members to cease more promptly. Target believes that mypensionID, and the biometric security it uses, are a good example of the innovations that will become commonplace as the pensions industry continues its digital transformation.

Download the full case study here.

Daon Blog Team
[WHITE PAPER]: 4 Ways to Bring the Delight, Cost-Efficiency, and Security of Online Experiences to Your Contact Center

CC Blog

Statistics show that 61% of all fraud losses can be traced back to the contact center with an average loss of $1,653 per fraudulent call. Add to this mix the spiraling cost of human operators and a painfully slow customer experience based on passwords and secret questions – and it’s no wonder so many organizations are eager for a better alternative. In our latest guide, we’re sharing four strategies to bring the same delight, cost-efficiency and security of online experiences to your contact center. Check it out here

 

Daon Blog Team
[CASE STUDY]: Large U.S. Credit Union

See how cross-channel identity continuity with IdentityX lets members access services securely, from anywhere, with their finger, face, or voice.

Credit Union Blog

THE CHALLENGE

A large U.S. credit union required a tried and trusted solution that could help reduce account takeovers and fraud. The optimal solution would also enhance the customer authentication process in the popular mobile channel.


THE SOLUTION 

The credit union was initially seeking a mobile-only solution, but Daon explained how IdentityX can be rolled out, seamlessly, across all of the credit union's channels. Not only would this approach modernize customer authentication in the mobile and web channels, but completely transform the call center experience as well, via multi-factor authentication and auto attendant call authentication.


THE RESULTS

Daon's IdentityX platform was rolled out to the credit union's members, providing them with a mobile and web banking platform where they choose how they authenticate themselves. The system has also been integrated into the credit union's busy contact center where it manages user authentication and handles simple query calls.


THE BENEFITS

Since deploying IdentityX, the credit union has facilitated a passwordless environment throughout the organization, and by moving 75% of simple query calls to its IVR, the credit union saved millions of dollars in its first year.

Download the full case study here.