It’s no secret that fraudsters are ‘cashing in’ on today’s explosive electronic migration. As more customer data and documents are moved to the “Cloud”, the security requirements and risks are becoming more difficult. Increasingly, customer data is being exposed online, as cost and environmental concerns drive paperless adoption. The result is a shift in risks from the corporation to the consumer.

This month’s eBilling Insight explains how you can address these burning issues by offering your customers solutions that deliver both convenience and peace of mind.

Today, billing companies are investing heavily in hopes of drawing consumers into the electronic revolution, but ongoing reports of phishing scams and data breaches are making consumers nervous about going ‘paperless’. “Consumers feel that by converting to eBilling, they are ultimately losing control over their bill or statement and fear that their online accounts could be hacked, changed or even deleted, leaving them with no record of usage or bill pay activity,” says Michael Wright, CEO Striata.

Many customers login monthly to download a copy of their statement, to ensure that they have control over their own information. In addition, this reduces the angst of moving providers and the risk of losing access to years of personal information.

Alleviate phishing concerns with ‘Push’ eDocument delivery

1. Delivery direct to the customer’s email inbox eliminates the login process: This is because authentication is an offline process, with no sensitive data passing over the internet.
2. Customers can print or save (in an encrypted format): This dilutes the threat of criminals looking to hack eBilling portals.
3. Additional security features alleviate customers’ fears of phishing: Including an authentication section at the top of emails, digital signatures and email personalization are important because it is not possible for a phisher to have the detailed, personalized information, nor the secure attachment.
4. Customers can also decrypt, view and save documents offline: Reducing security threats of malware and spyware.
5. Payments can be made directly from within the encrypted document: Without the need to enter sensitive payment information onto an untrusted website.
6. Secure document delivery creates secure links: While email delivery eliminates the need to pay at the biller site, it still offers them the option to do so – the difference being that it does so from a protected, secure link instead of from within an unprotected email. Trusted links within the email bill provide an extra layer of security to prompt customers to view their billing history, manage an account, or respond to marketing promotions, thus driving qualified authenticated traffic to biller website self-service portals.

Greater comfort eases the transition to paperless

The convenience of email bill presentment directly from within the inbox, ensures a greater level of comfort for customers in dealing with the biller electronically, thus making it an easier transition when pulling them to an online self-service portal.

“By eliminating security concerns with the protections associated with secure electronic document delivery, combined with the convenience of email bill presentment and payment, customers are encouraged to take advantage of the time saving self-service options available online” concludes Wright.