• Subscribe
  • Contact Us
  • About LendIt Fintech News
  • Home
  • Menu Item
  • Menu Item
  • Menu Item
  • Menu Item

Lend Academy

LendIt Fintech News: Daily Coverage of Fintech & Online Lending


  • Editorial
  • Daily News
  • Podcast
  • Investor Forum
  • Events

White Paper: STIR/SHAKEN Set to Shake up Contact Centers

Sponsored white paper by LiveVox helps to get contact centers ready for new call standards.

December 15, 2020 By Todd Anderson Leave a Comment

Views: 118

Contact centers should be on high alert for coming changes starting June 30, 2021. The FCC’s new STIR/SHAKEN standards are designed to cut down on fraudulent robocalls. A new white paper by LiveVox gives a great breakdown of the coming changes and how contact centers can be prepared.

STIR stands for Secure Telephone Identity Revisited and SHAKEN stands for Signature-based Handling of Asserted Information Using toKENs. STIR/SHAKEN intends to address the more than 185,000 yearly complaints about scams through robocalling. The new standards will help to cut down on fraud and better protect the consumer.

Consumers in the U.S. receive more than 100,000 unwanted robocalls every minute, 47 percent are fraudulent and cost Americans $10.5bn annually.

As explained by the FCC, “Calls traveling through interconnected phone networks would have their caller ID ‘signed’ as legitimate by originating carriers and validated by other carriers before reaching consumers.” This would help the phone company know the call is legitimate and therefore let the call reach the consumer.

At the same time it protects the consumer it will also help law enforcement to catch spoofers. Calls will be given ratings, A as the highest rating where the level of validation is 100 percent, to B and C where some details are not 100 percent verified.

Contact centers need to be proactive starting today. Leaving it up to the carriers and service providers could put your firm in a precarious position. LiveVox says you should start doing your due diligence immediately.

As the white paper states, “Nobody really knows for sure at this point if your calls will be blocked right out of the gate if you don’t have a token for those calls. But what will happen is that your level of attestation will be lowered if you don’t have arrangements in place to have your token at the highest level from call inception.”

LiveVox put together a list of items you can begin working on today to help ensure you are prepared when June 30 comes.

  1. Contact your carriers and service providers – find out if your platform is capable of supporting new standards
  2. Inventory your phone numbers – know the numbers you will use to make calls and if they will be problematic
  3. Validate your phone numbers – validate with multiple carriers and their analytics partners to limit call blocking
  4. Understand your equipment – ensure your platform is up to date from a hardware and software standpoint
  5. Confirm signing Authority – use a third party that is trusted by all service providers

FCC Chairman Ajit Pai recently said, “American consumers are sick and tired of unwanted robocalls, this consumer among them. Caller ID authentication will be a significant step towards ending the scourge of spoofed robocalls. It’s time for carriers to implement robust caller ID authentication.”

Doing nothing is not something contact centers can afford. In order to be prepared you need to begin working on changes today, LiveVox can help your firm ensure you and your providers are making the necessary changes for the fast approaching deadline.

Download the white paper today.

Filed Under: Fintech Tagged With: contact centers, LiveVox, STIR/SHAKEN, white paper

Views: 118

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Investor Intelligence

Peter Renton's Returns

Investor Forum

Lending Club Review

Prosper Review

Investor Resources

Most Popular Editorials

The Pure Marketplace Lending Model is Dead, the Hybrid Takes its Place

The 2018 Lending Club and Prosper Tax Guide

My Returns at Lending Club and Prosper

Map of Available States for Lending Club and Prosper Investors

Banks and Marketplace Lending Platforms: Ideal Partners?

Subscribe to the Podcast

Subscribe to the Lend Academy Podcast on iTunes
Subscribe to the Lend Academy Podcast
List of Podcast Episodes

Archives

Follow @LendAcademy Follow @LendIt

ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

Recent Editorials

  • LendingClub Receives Final Approval for its Acquisition of Radius Bank
  • Top 10 Fintech News Stories for the Week Ending January 16, 2021
  • Podcast 281: Sean De Clercq of Kickfurther
  • Upgrade Launches a Rewards Checking Account
  • Affirm’s IPO Takes Off Like a Rocket Ship

Copyright © 2021 · Metro Pro Theme on Genesis Framework · WordPress · Log in