We are committed to separating the signal from the noise to create Artificial Intelligence, Machine Learning, and Voice Biometric solutions that are affordable and easy to use for maximum impact on efficiency, security, and member experience.
We see technologists, clients, and partners collaborating to create the most effective innovations to solve current and emerging challenges in our complex world.
Illuma Labs, Inc. is a Credit Union Service Organization (CUSO) and R&D company headquartered in Plano, Texas. We deliver real-time voice authentication and fraud prevention solutions for credit unions through our flagship product, Illuma Shield™.
Our solution has been showcased at multiple premier FinTech events such as FinovateSpring and FinovateFall and won Best in Show at VentureTech. Illuma also won the CreditUnions.com 2022 Innovation Series in the Member Experience category. We are the exclusive provider for CUNA Strategic Services and have industry endorsements in 34 U.S. states.
- Elevated member experience: Over 85% of consumers are dissatisfied with traditional Knowledge Based Authentication, and this dissatisfaction increases if they forget an answer to a security question or are transferred to a different department and have to repeat the process. Illuma Shield replaces this painful process with a frictionless experience, enhancing the golden ‘member experience’ at credit union call centers.
- Enhance security against fraudsters and social engineers: Fraud is on the rise and fraudsters are increasingly targeting credit union call centers to socially engineer their way past unsuspecting credit union staff and take over member accounts. Access to stolen member Personally Identifiable Information (PII) is easy and cheap on the dark web, so member accounts can no longer be protected with Knowledge Based Authentication alone. Illuma Shield raises the bar for fraudsters by orders of magnitude, while eliminating the friction legitimate members need to go through to access their own accounts.
- Improve operational efficiency: Call center agents typically spend between 1-2 minutes authenticating inbound callers using traditional Knowledge Based Authentication. This adversely impacts critical call center KPIs like Average Handle Time (AHT) and incurs unnecessary operating expenses. Illuma Shield effortlessly authenticates members within the initial seconds of the call, resulting in overall reduction in AHT, call durations and hold times, enabling valuable call center resources to focus on what they do best: servicing member needs.
Articles & Resources
Webinar Description: Recent COVID-19 related lockdowns have resulted in a sudden spike in members engaging their Credit Unions through digital channels. Digital channels are now overloaded and Credit Union Contact Centers are struggling to keep up with the increased call volume. While several Credit Unions have buffered this issue by reassigning branch staff to Contact Center duties, the problem remains far from resolved. Now is the time to explore options to improve operational efficiency in the Contact Center by eliminating traditional processes that are mechanical in nature and prone to human error. In this webinar, we will take a close look at the traditional member authentication process and highlight key weaknesses related to efficiency, security, and member experience that have led a wave of Credit Union leaders on a hunt for alternatives to this outdated and mundane process. We will also introduce passive voice authentication as a promising technology to simultaneously improve efficiency, security, and member experience.