Technology and most especially Artificial Intelligence (AI), is innovating and developing at lightning speed. For some, these strides in innovation have caused concern that machines may (in the not-too-distant future) replace humans in the workforce. Yes, automation and the incredible developments being made in AI most certainly will alter the face of the workforce, but these advancements are more poised to enhance our current capabilities than outright replace them.
Automation Means Saving Time
Time is money. Through harnessing the power of real-time automation, AI, and machine learning, technology will take responsibility for mundane tasks that often involve the most friction, time and man power. That being said, by assuming these manual task roles, machines will further free up human workers to focus on higher level tasks that will be both more dynamic and fulfilling.
Real-time automation means efficiency will rise, as will productivity. Manual tasks no longer burdening workers, means these individuals will have opportunities to focus on roles that are more interesting and challenging, opening up more space and time during which project management and program leadership can flourish.
Automating Fraud Prevention in Real Time
For many merchants and online retailers who heavily rely on manual review teams and rule systems, the idea of automation may strike fear in their hearts. But worry not! Automation in no way means completely dismantling your review teams. Rather, there is opportunity here to harness the power of the machine to work on the problems your business most suffers from, and streamline the process by which manual reviews are handled.
Saying Hello to Queue Management
Real-time automation can still equal award-winning customer service. Forter recently was awarded the Bronze Stevie Award for Best Use of Technology in Customer Service. There is often concern that fully automating your fraud solution means completely doing away with manual reviews and diminishing your customer service. Teams of manual reviewers will still exist, but instead of going through the tedious cases, ones that should most certainly be handled by automation, they will receive cases that have been prioritized according to specific merchant requirements, freeing up teams to better attend to your customers’ other needs. Additionally, by instantly approving more good transaction thanks to automation, less customers will have delays in order fulfillment.
Automating the review of transactions that would otherwise waste the time of your team of reviewers, means that now, you can engage your teams with more challenging cases. A customer calls to request details on their declined transaction. They claim to have been a good customer, so why were they declined? Your manual reviewers will be able to comb through the data points and put together the pieces of the story to better understand the underlying causation.
Agility, Flexibility, and Innovation
By eliminating many of the woes caused by laborious manual reviews, managers will see their teams become more agile and able to respond quickly to other risk management requirements. Colleagues will suddenly have flexibility with their time rather than following prescribed outlines of time devoted to each case. Additionally, automation will foster superior compliance. By automating rudimentary functions, the company will create an atmosphere of transparency and will similarly foster the ability for reviewers to better identify specific problem areas in their workflows.
Don’t You Worry ‘Bout a Thing
Real-time automation means progress and scalability. Forter’s fully automated and highly accurate solution not only provides instant approve/decline decisions on every transaction but also ensures all those data points once reviewed manually are now streamlined. By combining machine learning with the finest human expertise, we are able to get the best of both man and machine.
Forter’s revolutionary technology can empower review teams by giving them the time and space to innovate and create better internal systems. Forter will take the messy and heavy queries and decision them instantly, leaving it up to you to decide how best to challenge and engage your employees with a new set of problems and projects.