The Growing Impact of Fraud
The rising threat of fraud for omnichannel organizations often fails to extend security to all customer touch points. While physical assets can be guarded with vaults and online resources can be protected with two-factor authentication, the phone channel is often left the most vulnerable.
Legacy solutions like knowledge based authentication questions (KBAs), stand-alone voice biometrics, and PINs force customers to opt in to repeating passcode phrases or endure lengthy question and answer sessions. These tedious measures extend call handle times, which create a poor customer experience, while adding on to operational costs. Additionally, if these security measures fail to protect customers’ accounts, brand reputation and customer loyalty are jeopardized.
Last year, the global fraud rate for call centers increased 113%, representing a $14 billion problem, of which $8 billion was spent on ineffective security to protect against fraud. This problem can be confronted – protecting against fraud in the call center doesn’t have to come at the expense of customer experience.
Protect Your Call Center
As a multi-factor anti-fraud solution, Pindrop® Protect, formerly known as FDS, uses every facet of a call — audio, voice, and metadata — scoring each call based on anomaly detection and matching to existing fraud profiles using Phoneprinting™ technology, voiceprinting and the Pindrop Network™.
Pindrop’s second generation Phoneprinting technology analyzes over 1300 features of a call’s full audio to create a high definition fraud profile, detect the subtle anomalies that indicate fraud, and determine its true device type, geolocation, and carrier. This information is used to produce a risk score for each call. This score is based on anomaly detection, cross matching phoneprints, ANI blacklists, voiceprints of known fraudsters and the latest fraud intelligence from Pindrop® Labs.
Pindrop’s technology is passive, meaning there is no opt-in required – it is transparent to both the caller and call center agent. By reducing reliance on KBAs, passcodes and PIN numbers, the time required to handle each call is also reduced. This technology, used in concert with machine learning, shared blacklists, and anonymized fraud models allows Pindrop Protect to provide a highly accurate anti-fraud solution with unrivaled results for the world’s premiere call centers.