The majority of consumers (80%) still prefer phone calls when it comes to complex or urgent matters with businesses, according to new research from TransUnion. However, 80% of them also avoid answering calls from unknown numbers due to potential fraud.
“A wide range of customer needs can be addressed through digital channels; however, calls to consumers remain essential, especially for complex or urgent issues. Consumers are willing to answer the phone, but only once they feel confident about who’s really calling them,” said James Garvert, senior vice president of TruContact Communications Solutions at TransUnion.
The study findings show that, in areas like banking, call authentication is increasingly important. Over 90% of consumers expect banks to clearly identify themselves when they call, and 65% would prefer a call to alert them to possible fraud on their accounts. Nearly half of respondents said they would even consider switching to banks that utilise call authentication to prevent spoofed calls.
Consumer preference for phone communication is highest in personal matters (64%), high-stakes decisions like mortgages (55%), urgent situations like natural disasters (55%), and complex topics such as estate planning (40%). Yet, with the rise of fraud, which is often driven by advanced technologies like AI and deep fakes, consumers remain cautious.
Seventy percent of respondents reported receiving at least one fraudulent call in recent months, with 74% now avoiding unknown calls out of concern they may be scams. Still, in many cases, this leads them to miss legitimate calls.
To bridge this gap, consumers expressed support for branded calling, where businesses display their name, logo, and purpose on the caller ID.
Three-quarters of respondents said this approach would enhance their experience, with 73% indicating they would be more inclined to answer—and view the business positively—if calls were verified in this way.