IVR banking offers various services like reporting fraud and updating personal information. It reduces routine customer service inquiries while providing accessibility beyond business hours.
Banks benefit from IVR by enhancing customer service, data analytics, and security through VoIP integrations. However, inadequate safeguards pose risks like identity fraud and data breaches.
Hackers exploit IVR weaknesses to target credit card data, customer accounts, and personal information. Common methods include social engineering, voice biometrics spoofing, and exploiting software vulnerabilities.
Authentication methods like voice biometrics and multi-factor authentication are crucial for securing IVR banking services against hacker attacks and unauthorized access.
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