I spoke with Matt Anthony, Vice President of Marketing from Pindrop Security. He mentioned it is a first-time exhibitor this year on the trade show floor; last year it was in the innovation sandbox. During the conference, SC Magazine named Pindrop Security the “Best Rookie Security Company” for 2013.
The company was showcasing a set of solutions to help fight phone fraud: Fraud Detection System and Phone Reputation Service. For example, social engineering attacks on the contact centers in the large enterprises to do fraud. Matt Anthony stated, “When considering the large financial institutions, about 1 in 3,000 calls is a fraud call. It may not sound like a lot but amounts to about $4 billion in losses a year. Contact centers spend about $20 billion to authenticate people as they call into the call center.” Pindrop security provides a solution that detects fraud and matches whitelists and blacklists while doing authentication to catch the bad guys.