New level of authentication improves phone fraud detection capabilities
ATLANTA – February 20, 2014 – Pindrop Security, the pioneer in phone fraud prevention and call center authentication for banks and enterprise call centers, today announced the availability of Pindrop Security’s Fraud Detection System version 2.0, which adds voice biometrics to Pindrop’s patent-pending Phoneprinting™ technology. With today’s announcement, Pindrop Security becomes the only vendor with technology available on the market that can confirm the identity, location, and type of device used for calls into a particular institution or call center.
Phone fraudsters are increasingly using social engineering tactics, leveraging publicly available information to manipulate and trick call center representatives and customer service agents who verify callers with traditional solutions into believing that they are someone else.
Pindrop Security’s FDS 2.0 integrates voice biometrics, which allows the matching of voice signatures to identify a caller, with phoneprinting, which analyzes the entire audio spectrum of a call to identify indicators of attack, including Caller ID spoofing, risky callers and call origin locations, suspicious call characteristics and callers with poor reputations. The integration enables organizations to more quickly identify and re-route fraudulent phone calls to their appropriate anti-fraud teams, reducing the likelihood of a call center employee granting a fraudster access to an individual’s financial account.
“With attackers increasingly unable to crack the robust cyber defenses at most institutions, more and more are moving to the phone channel to gain access to financial accounts,” said Vijay Balasubramaniyan, co-founder and CEO, Pindrop Security. “The integration of voice biometrics into the Pindrop solution is a crucial layer of defense that will help ensure that financial institutions and call centers can trust that the person who calls is who they say they are.”
“The best security is always layered security, and this principle holds true when securing the telephony channel,” wrote Avivah Litan, Vice President and Distinguished Analyst for Gartner. “Using voice biometrics combined with phone printing provides the strongest method for authenticating callers and detecting fraudsters, but using each technology on its own also has many proven benefits.”
Pindrop Security’s Fraud Detection System version 2.0 is generally available.
About Pindrop Security
Pindrop Security, headquartered in Atlanta, Ga., is a privately-held company that provides enterprise solutions that help prevent phone-based fraud. Its breakthrough phoneprinting technology can identify phone devices uniquely just from the call audio thereby detecting fraudulent calls as well as authenticating legitimate callers. We have helped enterprises eliminate financial losses and reduce operational costs on their phone channel. Pindrop’s customers include two of the top five banks and one of the leading online brokerages. Named SC Magazine 2013 Rookie Security Company of the Year and one of the 10 Most Innovative Companies at the 2012 RSA conference, Pindrop Security’s solutions restore enterprises’ confidence in the security of phone-based transactions.
 Gartner, “Using Voice Biometrics and Phone Printing to Secure Telephony and Authenticate Callers.” Avivah Litan, July 30, 2013.