Imagine this: your company has an important update about a temporary service downtime you want to share with your customers. You broadcast a text message to all your customers based on phone number data sourced from the CRM system. You believe that everything is going fine during the downtime until your customer service team receives a complaint. This call is from a customer who faced a financial loss as they were unaware of the disruption. This is just one of the numerous calls by customers complaining of an unexpected service disruption. Probing further into the cause for miscommunication, you realize that several messages were not delivered to the intended customers because of outdated customer profile data, including their phone numbers.
According to research by Prove, 37 million phone numbers are recycled every year. Along with that, 126 million new phones are activated, and 70 million are lost every year!
With updated phone numbers through robust identity-based phone authentication solutions, companies can explore numerous opportunities to innovate and increase customer satisfaction.
The typical solution approach to addressing these problems is highly fragmented in an enterprise. However, with a single platform that satisfies many use cases, you could rationalize and streamline the enterprise solution landscape. You only need one solution across the enterprise.
Fonebook™ by Prove is an industry-leading solution in this segment. It is a phone-centric customer servicing solution that continuously manages over one billion consumer and small business identity tokens. Fonebook™, when used with Prove’s identity verification and authentication API services such as Mobile Auth for frictionless 2FA, Instant Link for SMS-based 2FA, and Trust Score™, becomes the one-stop solution for identity authentication and customer servicing.
From increasing the recency of PII data, leading to better customer experience, to reducing fraud rates and OPEX, the benefits of phone intelligence-based identity authentication solutions are multifold. With 70% of leading Fortune 100 companies now using phone numbers as the modern way for identifying and servicing customers, ensuring that their identity data remains current has become a priority.