Banking & Finance

Pindrop for Banks & Financial Institutions

Reduce fraud while improving customer experience with help from Pindrop’s voice authentication and fraud detection solutions.

2023 Voice Intelligence and Security Report: The Fraudsters Strike Back

Fraudsters are attacking the contact center again. Only this time they are even more equipped and organized. They are leveraging data breaches, smishing attacks and generative AI to exploit weaknesses in contact centers and IVRs. Learn how the fraudsters’ tactics work and stay one step ahead of them.

Protecting The Banking Industry

8 of the top 10 US banks and credit unions trust Pindrop to provide their voice authentication and fraud detection.

Increase Data Security and Fraud Protection

Pindrop® solutions can help you identify and flag at-risk accounts as well as suspicious callers early, quickly, and with a high degree of accuracy over the voice channel. Our solutions help detect fraudsters before they have a chance to perform reconnaissance or gain access to accounts, protecting your brand and maintaining customer trust.

Reduce Authentication Costs

Knowledge based security (KBA) questions seem like a low-cost option, but they can force calls to go on longer than necessary and aren’t secure. Pindrop’s authentication solutions can speed up the customer verification process using multi-factor authentication for near real-time results. No more infuriating Q&A sessions before assisting customers.

Increase Secure Self-Service Options

Pindrop® solutions help you verify your customers over the phone, through an app, or in an Interactive Voice Response (IVR) system, enabling you to provide them with safer and easier ways to authenticate without hassle and offer more accessible choices for completing transactions or resolving account issues.

Enhance Customer Experience

Provide a faster, more personalized experience for your customers without a lengthy identity verification process or sending out-of-band SMS/Email codes. Pindrop’s solutions can help you create a smoother customer experience, opening more in-app experiences that build customer loyalty.

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how pindrop solutions help protect banks & financial institutions

Our origin story is rooted in helping protect banks from fraud since 2012. Since then, Pindrop’s award-winning solutions have evolved to improve security, reduce fraud and authentication costs, and safely support more self-service options, all while helping enhance customer experience.

Anti-Fraud

Pindrop helps banks protect more customer accounts from fraud, data theft, and scams. We use real-time data analysis on multiple factors, including voice, device, and behavior, combined with historical data on over 5B calls to evaluate fraud risk on every analyzed call, identify at-risk accounts up to 60 days in advance, and help focus attention on the riskiest callers. Pindrop’s anti-fraud solutions help you to:

Efficiently manage and mitigate potential fraud cases

Harden security for the IVR to further prevent data leakage

Detect near real-time social engineering and scam behaviors that lead to loss

Authentication

Pindrop helps financial institutions passively authenticate customers based on their device, voice, behavior, and other metadata, helping you improve customer experience while keeping accounts secure. Using Pindrop’s suite of authentication options, whether in the call center or omni-channel, you can:

More efficiently and securely authenticate customers to protect their transactions and personalize interactions

Improve average handle times and resolution experiences

Expand self service options in the IVR or in-app via voice authentication

Pindrop solutions have been proven across the industry.

Credit Unions

PindropⓇ solutions are flexible enough to help any size credit union strengthen their security posture while inspiring more customer loyalty. Pindrop helps credit unions detect risk so they can prevent fraud, improve efficiency, serve more callers, and provide a better and more personalized experience for members.

Brokerage Firms

PindropⓇ solutions give brokerages and payment firms a high degree of confidence they are securely protecting accounts from unauthorized access and fraudulent payments scams. Pindrop solutions help 4 of the top 5 brokerages in the US secure their customer accounts.

Enterprise Banks

Pindrop provides 8 of the top 10 enterprise-level banks in the US with advanced tools to improve their customer verification process. Enterprise banks have long relied on PindropⓇ solutions to detect risk to help them reduce fraud, help improve their customer experience, and enhance security while transacting over the phone.

PSCU Secures its Phone Channel with Pindrop

PSCU partnered with Pindrop to secure its phone channel. Together, we’re reducing account vulnerability by assessing the risk of phone calls and helping prevent fraud loss.

Resources

Interested in learning more about Pindrop’s solutions?

Pindrop ROI Calculator

Calculate estimated cost savings, potential operational improvements, estimated fraud loss reduction and more using our ROI tool.

Authentication the FFIEC Way

Learn more about the 2021 guidelines issued to help financial institutions provide better authentication.

4x ROI

Read how a trusted local credit union uses Pindrop’s technology to overcome security challenges and provide a better member experience.

Partner & Customers

While doing my quality checks on agent calls, I continue to hear positive comments from customers that they are not having to answer so many questions and they really appreciate how quickly the calls are moving. Pindrop has really made a difference!

Pindrop performed for us 34% better than what we projected in fraud loss reductions.

PSCU’s fraud detection and prevention resources stopped $146 million in fraudulent transactions. The partnership with Pindrop will help toughen our resistance to this emerging fraud threat in the voice channel. Our investment in new risk management technology is a key component of PSCU’s mission to support, protect and optimize every transaction we have with our Owner’s members.

Get a Customized Demo

Ready to learn more about how PindropⓇ solutions could work for your business? Schedule an initial consultation call with one of our solutions experts today.