TIAA’s Financial Crimes Management (FCM) team recently won the 2022 BAI Global InnovationOpens in a new window in Fraud Prevention award for its real-time fraud and risk assessment solution.
This award recognized TIAA’s innovative approach to managing fraud risk in the call center via the Phone Authentication Risk Management Solution (PARMS), which works to reduce call center fraud risk and provides clients with a quick, easy, and consistent experience.
"We are honored to be recognized as a leader of innovation in financial services,” said Alice Hocking, TIAA Head of Client Services. “PARMS helps us provide the highest level of security and create a comprehensive, scalable, and layered solution that enables TIAA to strike an optimal balance between managing fraud risk and delivering world-class customer service."
The BAI Global Innovation Awards celebrates innovation within the financial services industry, focusing on areas such as leveraging customer insights, implementing new technology, and improving the lives of employees, customers, clients and/or communities.
Read more about the BAI Global Innovation Awards hereOpens in a new window.