ENACOMM team members recently had a great night relaxing together, with glasses of pinot and paintbrushes in hand. The bonding took place at ENACOMM's Tulsa office on September 7th, but each participant left with his/her own work of art to help the experience live on.
Here are a few pictures that captured the fun of ENACOMM’s own Paint N’ Sip:
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Unique team building experience will be remembered for years to come

Flashback Friday: ENACOMM Paint N' Sip

F﻿LASHBACK FRIDAY:
We're flashing back to ENACOMM's recent outing to see the Tulsa Drillers PLAY BALL A great game, food and fireworks made for an evening of fun (with comradery above all!).
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The ENACOMM team cheers on the Tulsa Drillers

Summer Fun at Annual ENACOMM Outing to a Tulsa Drillers Game

ENACOMM participated in the PSECU Chips In Golf Outing on Thursday, September 16, which raised $55,000 for Feeding Pennsylvania, this year’s beneficiary. We had a ball!

<img src="/images/uploads/psecu-3.jpg" alt="" title="Mike Kirk, VP Financial Services for ENACOMM, and Rich Berstein, Sr. Project Manager for PSECU">
<img src="/images/uploads/psecu-2.jpg" alt="" title="Tom Ruback, VP of IT for PSECU, and Mike Kirk, VP Financial Services for ENACOMM">
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ENACOMM supports fundraiser of PSECU, Pennsylvania’s largest credit union

ENACOMM Joins "PSECU Chips In" Golf Outing

<a href="https://enacomm.netlify.app/cx-solutions/efs">ENACOMM EFS-IVR</a> raked in more than $200,000 per month in savings for a prepaid card company. How? Read on.
Banks, credit unions and card companies using outdated IVR systems can lead to customer frustrations over rocky, time-consuming service interactions. These legacy systems typically lack personalization and unification across channels.
ENACOMM EFS IVR provides intelligent, omni-channel self-service and analytics solutions for effortless customer self-service that takes into account previous interactions in all channels. ENACOMM also offers conversational voice banking via popular digital assistants. Its products and data services are cloud-based, providing flexibility and affordability for banks, credit unions and card companies of all sizes. 
And GOOD NEWS: ENACOMM EFS-IVR is pre-integrated with <a href="https://store.fusionfabric.cloud/application/echo-voice">Finastra’s Fusion Phoenix</a> and Fusion UltraData solutions for faster implementation.
How does it save money?
Keeping up with the advanced technology offerings of competitors can be difficult for financial services companies. Institutions struggling with retaining customers, understanding their behavior and making them feel valued should explore the possibility of transforming the customer experience that they offer. In addition to reducing unnecessary costs incurred by live agents handling customer calls, intelligent self-service solutions can thwart call center fraud attacks, which occur frequently and can be costly.
With ENACOMM EFS-IVR, credit unions, community banks and card companies experience greater call containment and a significant rise in successful caller authentication. For example, one ENACOMM customer saw call containment immediately rise from 79% to almost 85%. Caller authentication with ANI jumped from 84% to 94%, saving the card company over $200,000 a month. As a result of this 10% increase, the organization saw a 12% immediate reduction in calls to agents. The figure increased to 15% within a matter of months.
*Savings vary by call volume
 How does it work?
Financial institutions today face increased customer call volumes, high consumer expectations for seamless customer service, and frequent call center attacks by fraudsters. The ENACOMM EFS IVR solves those issues. Combining data analytics with artificial intelligence, it enables personalized, intelligent interactions and convenient multi-factor authentication. ENACOMM EFS-IVR also integrates with other customer service channels for a unified customer experience. As a result, financial institutions can deliver secure, user-friendly, omni-channel customer self-service. 
The app provides a range of software tools, from powerful voice biometrics to customer relationship management, as well as added levels of security. Unlike systems with limited verbal interactions or number-specific options in a standard menu, ENACOMM EFS IVR’s data-powered solution responds to verbal customer requests with human-like understanding. The technology uses customer intelligence to efficiently direct calls, personalization to help retain customers and context preservation to offer fast, seamless self-service. The app’s Fraud Control Module allows users to detect, track and respond to fraud across any channel. It’s a powerful way for financial services companies to identify the latest tricks being used by fraudsters and establish effective countermeasures.
Why ENACOMM EFS IVR?
So, what are the key benefits?
·       Improve customer experience
Enabling intelligent interactions, ENACOMM EFS-IVR creates a personalized, omni-channel customer experience. This helps financial institutions attract new customers and increase customer satisfaction and retention.
·       Increase efficiency
The app’s intelligent IVR improves customer service efficiency by answering calls 24 hours a day, seven days a week and quickly providing important information to callers. It is pre-integrated with Finastra’s solutions to allow faster integration with financial institutions’ core customer service system.   
·       Reduce risk
The ENACOMM EFS-IVR reduces operational risk, as well as risks of regulatory non-compliance and failure. The Fraud Control Module mitigates the risk of fraud by detecting, tracking and establishing effective countermeasures to fraud across all channels. 
·       Reduce cost
The solution authenticates callers and uses data intelligence to help customers independently find answers to their questions, resulting in a drastic reduction in agent handling times and costs. 
For banks, credit unions and card companies of all sizes, ENACOMM EFS-IVR is available NOW, pre-integrated with <a href="https://store.fusionfabric.cloud/application/echo-voice">Finastra’s Fusion Phoenix</a> and Fusion UltraData solutions for quick deployment.
For more information on ENACOMM EFS-IVR and how to put it to work for your organization to save on costs and quickly meet customers’ needs, reach out to Mike Kirk by email (MikeK [at] enacomm [dot] net) or phone (512.656.5099).

Improve your customer experience and your bottom line at the same time

What Could Your Organization Do by Saving $200K/mo?

"Take me out to the ballgame, take me out with the crowd..."

ENACOMM Family Event @ The Drillers 2021

Only through new and differentiated offerings can financial institutions meet the challenges of fierce competition and climbing customer expectations. But "core platform/provider constraints” were ranked as the number one threat to the growth prospects of respondents’ banks in a recent American Bankers Association research study.
Luckily, more of the financial services industry is becoming open to open banking. But all players in the ecosystem need to embrace open APIs to fully unleash innovation.

Innovation enabled by open banking and open APIs is imperative for FIs today

The Appetite for Open Banking Is Increasing

Nilson Report recently interviewed Michael Boukadakis on ENACOMM's FinTech solutions for community <a href="https://www.linkedin.com/feed/hashtag/?keywords=financialinstitutions&#x26;highlightedUpdateUrns=urn%3Ali%3Aactivity%3A6785215508787605504"></a>financial institutions and the payments industry, as well as its new partnership with IDmission. From the article: 
 
"ENACOMM offers a cloud-based software-as-a-service (SaaS) model that lets these smaller financial institutions access self-service applications on a less costly per-transaction basis. This helps them compete with larger banks and fintechs that offer financial services."
The write-up goes on to say:
"ENACOMM says that one big challenge in self-service applications is securing all transactions as customers interact in various channels. This can involve different banks and processors. The company recently signed a partnership with IDmission to help it match a laptop, smartphone, tablet or digital assistant device to a specific customer. IDmission and ENACOMM are also partners on voiceprint biometrics. That technology, which has been used mainly to secure high-value transactions, is expected to be much more widely used in the coming years." 
 
Reach out so we can tell you more! 1-877-860-0025

Nilson Report recently interviewed Michael Boukadakis on ENACOMM's FinTech solutions for community financial institutions and the payments industry, as well as its new partnership with IDmission

The Nilson Report Interviews ENACOMM CEO on ENACOMM’s Self-Service SaaS

It's a MYTH that seniors shy away from new technology. 34% of US senior broadband households use smart speakers or smart displays, according to new research from Parks Associates. 
 
And these boomers are 10 times wealthier than millennials, according to Federal Reserve data. They hold 53.2%, or $59.96 trillion, of US wealth, which is also twice the $28.5 trillion of US wealth that Gen X holds. 
 
It's time for financial institutions to create a modern, convenient customer experience for their technology-loving boomer customers and members. It's time for conversational voice banking.

It's time for financial institutions to create a modern, convenient customer experience for their technology-loving boomer customers and members.

From Millennials to Seniors, People Are Ready for Conversational Banking

Green Sheet magazine this month published a brief based on intel shared by ENACOMM. From the article:
"Michael Boukadakis, CEO of ENACOMM, sent us sobering data on account takeovers (ATOs). 'ATOs—identity theft where a criminal gains unauthorized access to an online account belonging to somebody else—spiked by almost 282 percent from Q2 2019 to Q2 2020 and increased by almost 300% during the pandemic, according to the Sift Digital Trust and Safety Index,' he wrote.
"Boukadakis also mentioned that thePayments Risk &#x26; Fraud Consortium, of which ENACOMM is a founding member, just released a whitepaper, 3 Tips to Avoid Account Takeover: Modern Detection &#x26; Prevention, which identifies pre-fraud indicators and measurements that are essential in reducing account takeover fraud."
The article continues:
"Following is a brief summary he provided of those tips:
<ol>
<li>Layer fraud prevention solutions to easily pivot in light of the latest fraud patterns: There is no one solution that will solve all fraud issues. To add to the challenge, criminals constantly devise new methods of attack or resurrect their old favorites with new twists.</li>
<li>Use specialized data services that identify and match user credentials that are at-risk for account takeover due to breached data exposures: Matching logins against confirmed, exposed data is the most sustainable solution in stopping account takeovers for organizations and long-term for all industries. This method not only helps isolate fraudsters but will also help build cases for future prosecution to get criminals "off the street."</li>
<li>Monitor bot traffic behavioral patterns for abnormalities for temporary attack relief: This type of monitoring postpones bots from revisiting an organization's site with reconfigured, masked attributes or pushes them to move to another site, which unfortunately perpetuates the cycle of attacks on all industries."</li>
</ol>
Read the <a href="http://www.greensheet.com/emagazine.php?story_id=6543&#x26;search_string=enacomm">full article</a>! And check out the <a href="https://www.fraudconsortium.org/">Payments Risk &#x26; Fraud Consortium</a> for expert intel on how to avoid ATOs.

Green Sheet magazine published expert tips from ENACOMM and the Payments Risk & Fraud Consortium to help fight account takeover fraud.

Green Sheet Mag Looks to ENACOMM for Tips to Fight Account Takeover Fraud

In 2018, Sandia Laboratory Federal Credit Union (SLFCU) converted its core and online/mobile banking systems, changes that required the credit union to update other systems that better integrated with its new technology. According to CreditUnions.com Reporter Erik Payne, "Switching cores prompted SLFCU to re-assess more than a dozen ancillary systems that plugged into the old core, including document management and telephone banking as well as its online and mobile banking systems. 
 
The conversions required an all-hands-on-deck approach, but the credit union came out better for it. 
 
ENACOMM was part of this conversion success story! 
 
Via CreditUnions.com: <a href="https://bit.ly/3iX5mdF">https://bit.ly/3iX5mdF</a>

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