Nice Rolls Out Fraud Prevention Solution

NICE Systems has announced the launch of its Contact Center Fraud Prevention solution, which tracks fraud patterns and screens all phone interactions against a watch list of known fraudsters.

Businesses that use the solution will be able to pinpoint fraudulent callers according to their unique voice print by using voice biometrics to automatically cross-reference each call with a suspicious watch list of known fraudsters. The solution also implements NICE Interaction Analytics to identify fraud patterns and social engineering attempts based on speech analytics, emotion detection, talk patterns, and interactions. For example, shouting at the agent or trying to change an address or phone number could be part of a fraudulent behavior pattern, and specific keywords may raise a red flag. Telephony and other contextual data, such as IVR events, caller location, and ANI matching, or caller ID, are also examined to determine potential fraud.

The NICE solution guides the agents in real time to appropriately handle high-risk interactions, and provides an end-to-end fraud management solution that prioritizes high risk interactions for investigation before transactions are authorized. The offering leverages the NICE Actimize Risk Case Manager, a complete investigation and work flow tool used to open an investigation ticket following identification of a fraud attempt, including playback of suspicious interactions.

"The contact center is a prime target for fraudsters, and enterprises must be prepared to ensure that this area of their business is as well protected as online transactions," said Yochai Rozenblat, president of the NICE Enterprise Group, in a statement. "By leveraging our contact center best practices with our fraud prevention practice, we were able to create an end-to-end solution that offers proactive fraud detection, real-time guidance, and integrated fraud case management. We believe that our advanced fraud prevention technology will help businesses boost their reputations, protect their customer base, and significantly reduce fraud losses."

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