Pindrop Security Combines Voice Biometrics and Phoneprinting Fraud Detection
Pindrop Security, a provider of phone fraud prevention and call center authentication for banks and enterprise call centers, has released its Fraud Detection System version 2.0, which tacks on voice biometrics to its patent-pending Phoneprinting technology.
"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, cofounder and CEO of Pindrop Security, in a statement. "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."
As the company points out, phone fraudsters have stepped up their attacks by using publicly available information to trick contact center agents into believing they are someone else.
"Most companies and government agencies have already made significant investments in fraud detection technologies," says Dan Miller, senior analyst at Opus Research. "This approach brings voice biometric-based caller authentication into the mix. Because it is a biometric, it goes beyond blacklisting of a phone number (which can be spoofed) or a specific device (which can be stolen) to detect the voice of an known 'bad guy.'"
Pindrop Security's FDS 2.0 integrates voice biometrics, which matches caller voice with Phoneprinting, a solution that analyzes the entire audio spectrum of a call to identify indicators of attack. This includes spoofing, origin location, risky and suspicious callers, or callers who may have bad reputations. These tools allow contact centers to identify and reroute fraudulent phone calls to antifraud teams.
"This is a great example of how voice biometrics fits into multifactor efforts to reduce fraud that originates over the phone and through contact centers," Miller says. "This is especially important for banks, credit card issuers, brokerage houses, healthcare companies, and government agencies, where strong authentication efforts can clamp down on losses."
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