An organisation responsible for the security of its customers’ transactions, flags any 'suspect' transactions that may not been performed by the customer. Customers are then required to telephone the organisation to provide personal security details in order to validate the transaction and this presents a problem if the customer cannot get through, prior to the transaction validation period expiring.
Boomerang’s patented SMS messaging was introduced to manage the verification process. Any transactions requiring verification trigger a message to the customer, requesting some account specific security clearance data. Responding directly to the SMS with the requested information allows the customer to complete the transaction without delay. Where invalid security information provided, the customer is then prompted to contact the organisation with a direct contact number and transaction reference provided in the return message.
Speed up authentication of transactions to allow completion when required
Automated approach to transaction validation – removing burden from customer
Apply the required 'layers' of security based on specific transactions using multiple messages
Current account transactions
Credit card transactions
Trading / Brokerage account transactions
Online shopping accounts