Finance & Banking

Voice Biometrics in

Banking & Financial Industry

What happens when banking and financial institution cannot reliably verify whether they’re talking with an actual customer? Our solution helps quickly, easily, and accurately detect your customers in the contact center, and provide strong voice identity assurance for connected devices.  

See how Lloyds Banking Group uses Phoneprinting →

FINANCIAL INSTITUTIONS FACE UNIQUE CHALLENGES

Fraudsters take over accounts, steal identities, or commit transaction fraud through contact centers, leading to significant fraud loss. Long handle times or complex identity cooberation drags down the customer experience.  These security methods are often ineffective as well.  Frictionless interaction through voice is possible through mulitple channels without sacrificing the security your cusotmers demand. 

Increasing Fraud Loss

Pindrop® Labs found a 269% increase over the last 4 years in FI fraud attacks — higher than most other industry studied.

Weak Protection

Current solutions for banking and financial contact centers are inefficient for authenticating customers and deterring fraudsters. Connected device interactions are currently limited due to lack of security. 

Brand Vulnerabilities

Breaches and account takeovers impact brand reputation and customer trust.

Pindrop® Panorama: A Platform to Fit Your Call Center

Pick and choose from authentication and anti-fraud solutions to fit your needs and serve your customers, with Pindrop Panorama, Pindrop’s next generation platform. From the carrier to the IVR and agent, call centers that deploy Panorama can seamlessly authenticate legitimate callers and weed out fraudsters, while decreasing average handle times and cost per call.

Pindrop helps call centers detect fraud throughout the lifecycle of a call by analyzing the audio, voice, behavior and metadata to create call risk scores and fraudster profiles.

  • Identify repeat fraudsters
  • Invisibility score calls for fraud risk
  • Reduce KBA for low-risk callers

Learn More →

See How They Work Together

Pindrop helps call centers passively authenticate customers by creating unique multi-factor credentials based on device, voice, and behavior.

  • Reduce average handle time
  • Improve IVR containment rates and self-service
  • Improve customer experience

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ACCORDING TO PINDROP® LABS, ONE IN EVERY 718 FINANCIAL INSTITUTION CALLS IS FRAUDULENT

“Much of the fraud that is enabled in U.S. financial institutions’ contact centers later occurs in another channel (i.e., occurs as cross-channel fraud). Examples include a debit card, credit card, or check order obtained by an impersonator, or online fraud that results from credentials being reset by the contact center agent. At many banks, the root cause of the fraud losses — the contact center — often goes unrecognized.”

— Shirley Inscoe, Aite Group

HOW PINDROP® PROTECTS FINANCIAL INSTITUTIONS

Pindrop® voice identity and voice security solutions help financial institutions lower fraud costs, improve customer experience, and avoid poor customer experience in their financial contacts centers and connect device applications. 

PREVENT ACCOUNT TAKEOVERS & CROSS-CHANNEL ATTACKS

Pindrop® solutions help contact centers identify and flag suspicious callers early, quickly, and accurately over the voice channel, detecting fraudsters before they have a chance to perform reconnaissance or gain access to accounts.

LOWER FRAUD COSTS

Pindrop® Labs found the average financial institution call center reported average fraud losses of $0.58 per call. Many Pindrop customers report a reduction in fraud losses by over 70%.

IMPROVE CUSTOMER EXPERIENCE

Pindrop® solutions help reduce frustrating authentication processes while still providing multi-factor security for callers, and digital assiant users. 

PROTECT BRAND REPUTATION

A high-profile data breach is devastating to a bank or financial institution, and recent breaches have been tied to a lack of contact center security. By shoring up security gaps, call centers can help stop attacks that could devastate a brand and customer base for years.

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2019 Voice Intelligence Webinar Series – where voice, not touch is the main interface for customers.