TransUnion research uncovers conditions that prompt consumers to answer the phone when businesses call

CHICAGO, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Nearly eight out of 10 consumers believe phone calls are important for communicating with businesses. However, 80% will also block calls from numbers they don’t know, according to new research from TransUnion (NYSE: TRU), which highlights a major pain point for both consumers and businesses.

“A wide range of customer needs can be addressed through digital channels; however, calls to consumers remain essential, especially for complex or urgent issues,” said James Garvert, senior vice president of TruContact Communications Solutions at TransUnion. “Consumers are willing to answer the phone, but only once they feel confident about who’s really calling them.”

When it comes to banking, 91% of consumers expect banks to clearly identify themselves before answering, 65% prefer a call if there is suspected fraud on their account, and nearly half will likely switch banks to one who uses call authentication to ensure calls have not been spoofed.

Re-establishing trust in the phone channel
Rampant fraud—increasingly aided by AI and deep fakes—has compromised the integrity of the phone channel and left consumers reluctant to engage on it.

Overall, more than two-thirds of consumers (70%) indicated they had received at least one call in the past three months in which the caller pretended to be someone else. Consequently, 74% say they do not answer calls from unknown numbers out of fear they might be scams. However, 70% have not answered a phone call due to safety or fraud concerns, and afterwards learned it was a legitimate number calling them.

The report notes the tension created by consumers wanting to answer calls from businesses for their most personal, complex and urgent issues, yet being afraid of fraud. The solution that consumers responded to most was branded calling that verifies the company calling and shows its name and logo.

According to Juniper Research, “The use cases for branded calling are widespread, with any enterprise which contacts their customers via phone calls benefitting from branded calls. This will include but is not limited to healthcare services, banks, insurance companies and social media platforms.”

Three quarters of consumers said branded calls would improve the customer experience when they are expecting a call from a particular business. Nearly the same amount (73%) said they would be more likely to answer calls—and view the company more favorably—if a business displayed its name and logo on calls.