Answer:
First and foremost, you must devise not one but multiple defenses against fraud and identity theft. The best place to start is inside an organization's CRM strategy. That is where the tools and techniques are already in place. Increasing fraud prevention inside CRM can deliver a double benefit: One, more trust from customers is earned. And two, CRM systems become more effective.
As CRM is approached in this larger context, one very important fact must be remembered: The processes of CRM feel very different to customers than they do to organizations. A company probably measures CRM in terms of competitive advantage, cross-selling opportunity, product differentiation and loyalty. But customers measure CRM primarily by one standard: control.
Customer want to control how he or she deals with your organization, particularly when it comes to personal information. Fortunately, these two perspectives are not mutually exclusive. And getting to win-win may not be terribly difficult or expensive. This requires a single focus - better identification, authentication and authorization systems. Systems do not mean technology alone. Certainly many technology tools are available, but this is a job that will require more than hardware, software and networks.
It will also require new management practices and policies that reflect underlying values. And it means being more proactive, both inside and outside organizations.
These actions are based on three propositions. The first is that technology can be a good differentiator for every company. The second is that it takes technology and management planning to create a superior CRM system. And the third is that well-trained people are crucial to the success of any CRM strategy.
In terms of technology as a differentiator, systems that facilitate more of a real-time relationship - such as notification engines that enable contact with customers, while addressing their need for a sense of control.
In the future, consumers will have a virtual check register on a personal digital assistant (PDA) or wireless phone. Whenever a charge is posted to a consumer's account, a secure e-mail or instant message is sent immediately to their PDA, so their check register is always in synch with their account. If there is an unauthorized transaction, the consumer is aware of it almost instantly. And since it's electronic, both the consumer and their spouse have the same copy of that information. That solves the problem of having only one physical check register. However, having near real-time access to what your spouse is purchasing could bring up some other interesting problems.
The idea is to accelerate the information flowing back to the individual. And the granularity of that type of notification engine can give customers real power over how their data is used. But as we all know, e-mail is a minefield. So many companies are spamming their customers that you run the risk of them filtering your messages directly to the bit-bucket.
They have the tools to do that now, and they will - unless a consumer disciplines the e-mail process to contact them only with information that the customer perceives to be genuinely valuable. And that goes back to CRM and how much organizations know about their customers.
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