Operational savings

Help Desk and Registration operational savings
Initial Customer registration
Create/communicate securely password versus PIN for CAP, will be a difference of 5 to 8 USD (One Time Cost Benefit)

Help desk - passwords
People do forget their passwords:
Password related calls per customer per year:20% to 40%
It is typical the user first calls his branch office to find some help. Picking up the phone and telling the customer he needs to call the call center will cost at least 1 USD.
Help desk handling costs per call: 3 to 7 USD

Customers will go through this process several times as they forget their passwords more often than is good for them.
After the third time, it is very likely the user will not return to the channel and forget all about the benefits for him, as the authentication process is too cumbersome or complex to remember,. Moreover the waiting in the queue for the call center is in most cases not the best experience.
This will drive the customers again to the branch offices and will cost more money.

Lost opportunities for bank remote services
Percentage of new customers who requested remote services but never used
Partly due to lost first password, never tried again: 20% to 50%

Percentage of customers wishing to benefit from remote bank services but do not trust the security: 15% to 25%
Many people do subscribe at first, but when it really comes to do business online and being confronted with UserID and Password(s), people just don't remember and leave the website.

If people use a non physical channel, they stick in most cases to just one channel they know. So getting customers to use several channels like Internet- & Telephone Banking and e-Commerce, will be difficult to achieve.

Customers who use Internet banking on a regular base, are often more informed about different services. Moreover they can find initial information on different services from the website. This is promotion for other services. If the customer decides or still wants to meet with the agents or manager at the branch office, he will be better informed upfront. Thus saving time for the agent or branch manager.

Telephone Banking:
Instead of letting the operator authenticate the customer, the customer can authenticate himself by using the dynamic password he generates with his EMV card. This allows for more efficient queuing as the customer is already identified and profiled before the operator picks up the phone, or sends him through to his manager for more difficult cases.

Internet Banking Increase
In The Netherlands one of our customers has seen an increase of 30% of Internet Banking ,due to the use of our UnConnected Smart Card Reader.

Europe, Middle East, Africa: +32 (0)2 609 9700
United States: +1 508 366 3400,
Asia/Pacific: +65 6323 0906
Australia: +61 2 8920 9666/+61 1800 468 376

Contact Details  / VASCO Worldwide