Service enhances outbound calling authentication reduces TCPA compliance risk. Early Warning, a leader in collaborative risk solutions, today announced that a top-five U.S. bank has chosen its Mobile Number Verification Service to gain mobile number and account authentication confidence for outbound calls to mitigate TCPA compliance risk and improve operational efficiencies.
Organizations and their contact centers must comply with the Telephone Consumer Protection Act (TCPA), which prohibits auto-dialed or pre-recorded calls to mobile numbers without prior express consent regardless of accidental or "wrong number", among other rules and compliances. The banking industry is already seeing settlements reach multimillion dollar levels, as penalties for TCPA noncompliance can be as high as $1,500 per violation.
For this top-five bank, Early Warning's Mobile Number Verification Service will be fully deployed in Q2 of 2015. Nearly 1 million mobile phone numbers will be authenticated on a daily basis for outbound calls made from its contact centers.
Early Warning's Mobile Number Verification Service helps organizations confirm, before a call is made, that the mobile number that a contact center has on file still belongs to the correct customer and that the mobile account is still active. With the company's real-time access to Mobile Network Operator data, each inquiry is cross-checked against more than 720 million phone numbers, or 94 percent of U.S. wireless coverage and 297 million wireless customers.
Betty Chan-Bauza, Director of Product Development, Mobile Solutions at Early Warning, said, "With The Wall Street Journal reporting that almost 37 million phone numbers are recycled each year, Early Warning recognized the significant challenges faced by organizations to ensure the accuracy of mobile numbers on file. Our Mobile Number Verification Service helps mitigate the risk of incurring fines as penalties escalate."
Mobile Number Verification is part of a suite of solutions from Early Warning that provide visibility across mobile networks to changes occurring across mobile accounts, devices and phone numbers to strengthen mobile and online authentication and improve the customer experience.
About Early Warning
For more than 20 years, Early Warning has worked with financial services organizations of all sizes as well as government entities to advance collaborative risk management as well as improve customer service and operational efficiencies. For more information, visit www.earlywarning.com.