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PINDROP BLOG

Category: Bank fraud

February 11, 2020
Excellent Customer Experience | The Gift We Are All Looking for on Valentine’s Day
In a world where technology continues to evolve, most companies are currently experiencing a digital transformation. However, companies aren’t made up of just one channel of operation – and it may be hard to determine priority. Over the years, we have noticed that the call center is often pushed to the back burner, making it…
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January 17, 2020
Answering Your Questions About the Conversational Economy
What do we mean by the conversational economy? This is an economy driven by interaction. Currently, that means always-on internet connectivity, access to products and services anytime/anywhere through a plethora of devices, and platforms that allow people to engage directly with businesses and other consumers. Businesses already participate in the conversational economy when they immediately…
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December 3, 2019
Welcoming Voice Comes With Hurdles | Technological and Generational
As the conversational economy grows and intertwines within businesses, it becomes more and more clear that this won’t be an entirely easy path. There are many hurdles that exist along this road, many related to the technology itself, including: Computational resources The right infrastructure needed to support these resources The promise of 5G providing a…
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May 29, 2019
Authentication Myths | Reaching Critical Mass – Quick & Easy
Reaching critical mass for enrollment can be defined as having enrolled a large portion of your customer base to justify the purchase price of the authentication solution in question. Traditional voice biometric software requires a customer to enroll actively, meaning they have to intently participate in saying a phrase or have the agent start to…
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October 3, 2018
The Future of Voice, Fraud, and the Impact to CX | A Recap
Voice is growing out of the call center, out of your telephone and is growing into the next interface. In previous years, we have released fraud reports revolving around the call center, but with the expansion of voice, and the fraud that follows, we have shifted our perspective to voice intelligence – after all, voice…
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August 24, 2018
Zelle | A direct funds transfer disruptor…What Are You Trading For Convenience?
With convenience on the mind of most consumers, peer to peer payment apps are making it easy to transfer money to friends, family, or acquaintances. The money-transfer market is dominated by Venmo and Paypal, however, Zelle is quickly catching up, offering an alternative that is backed by U.S. financial institutions. Zelle is known for its…
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May 23, 2018
Call Center Fraudsters | Voice Morphing, Social Engineering, and the Need for Authentication
As technology advances, fraudsters use different, constantly evolving techniques that include exploiting the phone channel. With increasingly sophisticated attacks, fraudsters maneuver around authentication and security measures to access sensitive information that helps them take over accounts. This evolving criminal strategy is part of a $14 billion call center problem. From January 2016 to August 2017,…
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December 27, 2017
2017: The Year of Breaches, Failing PII, and the Voice Movement
By Shawn Hall, Director of Fraud Prevention & Strategy The anti-fraud and authentication industry has seen some major happenings in 2017. Overall, we saw an increase in call center fraud rates, with a noted rise in the use of mobile devices and ANI spoofing, for fraudulent activities. At the beginning of the year, the fraud…
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September 8, 2017
How 3 Premier Call Centers Are Reducing Fraud With Pindrop
With $14 billion lost annually to phone fraud, the call center remains a common target to fraudsters. Legacy authentication methods including caller identification, knowledge based authentication questions (KBAs), and ANI verifications no longer stand up to sophisticated attacks. Using these outdated solutions costs call centers $0.33 per call, adding up to $8 billion each year.…
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April 13, 2017
Tackling Phone Fraud with Pindrop
Martin Dodd, Managing Director, Connect, Lloyds Banking Group With the spotlight remaining on the evolving threat of online fraud, phone fraud is an area that is often overlooked. It is, however, an area where fraudsters, aided by new technology, still look for opportunities. Smarter thinking, collaboration and using innovation are helping organisations to stay a…
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