Case Study: FNBO saves 8.5 million minutes in handle time with Pindrop

FNBO saves 8.5 million minutes in handle time with Pindrop

First National Bank of Omaha (FNBO), a large privately held bank, faced challenges with telephone fraud and inefficient customer authentication. Before implementing Pindrop's solutions, their call center had a reactive approach with no fraud detection in the IVR system. They relied heavily on one-time passwords and traditional security questions, which harmed the customer experience by adding significant handle time and were often ineffective against fraudsters.

Pindrop provided a solution with its Protect and Passport products to secure the IVR and call center. The results were substantial, including a 75% decrease in OTP usage and a 30-second reduction in average handle time, saving an estimated 8.5 million minutes annually. Furthermore, Pindrop helped FNBO decrease average account takeover losses by 47% and improve fraud recognition. The vendor's technology enabled a more secure and efficient customer experience while allowing the bank to proactively identify fraudulent calls.

FNBO