How AI Transformed Fraud Prevention & Member Services at Dupaco Community Credit Union

In our recent live webinar – ‘How Dupaco Community Credit Union Sets the Standard for Fraud Prevention and Member Experience with AI’ – we were joined by Todd Link (Chief Risk Officer, Dupaco), Charlie Peterson (VP of Strategic Initiatives, Allied Solutions), and Srinivas Njay (CEO, interface.ai).

Together, we delved into Dupaco’s exceptional AI journey with interface.ai, exploring how the 160,000+ member credit union has revolutionized fraud prevention, operational efficiency, and member experience. If you want to watch the webinar, the full recording is available below. Otherwise, you can read the key takeaways from the webinar below.

Key takeaways from the webinar

1. AI is essential to combating fraud in financial services

“The only way we’re going to compete with AI fraudsters is to combat it with AI itself.” – Todd Link, Chief Risk Officer, Dupaco Community Credit Union

Fraudsters are becoming increasingly sophisticated, and traditional methods are no longer sufficient. Todd Link explained in the webinar that in order to tackle this, an AI-powered “mosaic approach” is required that combines multiple layers of security to verify callers.

Dupaco achieves this multi-layered authentication with interface.ai’s three-legged stool approach, combining AI, voice biometrics, and caller ID forensics. The results are significant: 68% call authentication. Learn more about this industry-unique AI authentication approach, only offered by interface.ai.

2. The most advanced security and member experience can work hand-in-hand

“Members don’t even realize that 100 verification checks are being run in the background before the call is even answered. It’s quick, seamless, and secure.” – Todd Link, Chief Risk Officer, Dupaco Community Credit Union.

Todd Link highlighted during the webinar how Dupaco successfully balances robust fraud prevention with an excellent member experience. Using interface.ai’s Voice AI and integrated authentication systems, Dupaco can conduct over 100 fraud checks on every call within five seconds – even before the call has begun. This ensures a seamless and highly secure experience for the member, as well as 24/7 availability.

3. Voice AI automation delivers true cost savings

interface.ai’s Voice AI Agent has generated a net savings of $350,000 in one year for Dupaco. I am really excited about the future of what we can do together as partners, because we are in the infancy of this.” – Todd Link, Chief Risk Officer, Dupaco Community Credit Union.

By implementing interface.ai’s Voice AI, Dupaco has transformed its contact center from a cost center into a value-generating hub. During the webinar, Todd Link shared how interface.ai’s Voice AI automates 46% of calls. This automation has not only streamlined day-to-day operations, but also resulted in $350,000 annual net savings.

Todd emphasized that these results are just the beginning, with the potential for further advancements in AI-driven solutions. As Dupaco continues its journey with interface.ai, the credit union is poised to unlock even greater operational efficiencies and cost savings in the future.

4. AI automation doesn’t cut jobs, it improves them

We didn’t adopt AI to just necessarily cut staff. Instead, AI allows us to automate the low-hanging fruit. What’s my balance? What are your hours? We can move this off our agents’ plates so they can serve our members at a much, much deeper level for those deeper interactions that they’re seeking.” – Todd Link, Chief Risk Officer, Dupaco Community Credit Union.

During the webinar, Todd Link emphasized that Dupaco’s adoption of interface.ai’s Voice AI was not just about reducing staff, but about enhancing the role of human agents. Rather than replacing employees, AI empowers them. By automating repetitive inquiries like account balances and branch hours, AI frees agents to dedicate more time to meaningful conversations that require a personal touch.

As well as enhancing the experience for members wishing to speak with agents, this has also enhanced the experience for those who are happy to speak with AI as wait times have reduced from often 20-30 minutes, to less than 30 seconds.

Wrap-up

The AI shift has transformed Dupaco’s contact center from a high-volume, transactional environment into a strategic service hub, where AI and human expertise work together to provide more secure, seamless, and personal support to its members.

You can watch the full webinar recording below for more insights, stats, and best practices on adopting AI into your financial institution.