CUSTOMER TRUST
BY LJUBIŠA VELIKIĆ, TELUS DIGITAL
WHY TRUST IS A MUST IN CX AND WHY CUSTOMER SAFETY IS KEY.
ILLUSTRATION PROVIDED BY ADOBE STOCK
Trust is the invisible currency behind every strong customer relationship, and once it is broken and lost, it is hard to earn back. With AI driving a major increase in user-generated content and enabling more sophisticated fraud tactics, building and maintaining customer trust is increasingly challenging. A single phishing scam, a chatbot that gives biased or wrong answers, or a data breach exposing customer details can instantly undo years of loyalty.
Enterprises that do not invest in safeguarding their customer experiences( CXs) through investment in strong digital defenses risk eroding customer relationships, undermining brand credibility, damaging long-term loyalty, and creating lasting business consequences.
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Leaders responsible for CX understand how critical trust and safety have become, and many are preparing to act.
A recent TELUS Digital report, Safety in Numbers, which partnered with Ryan Strategic Advisory to survey more than 800 decision-makers in Western Europe, North America, and Asia-Pacific, explored the opinions of these leaders around trust and safety.
The findings show that many are planning to significantly or somewhat increase investments in ID verification( 68 %), fraud detection( 66 %), know your customer( KYC) processes( 60 %), and content moderation( 48 %) over the next 12 months.
Each of these categories is critical in maintaining customer trust.
• ID verification is essential for confirming customer identities and limiting potentially fraudulent activities.
• Proactive fraud detection helps organizations protect their digital platforms through continuous transaction monitoring and threat detection for faster, more effective responses and remediation.
• KYC helps organizations make informed customer decisions in line with regulatory requirements.