NICE launches real-time fraud prevention voice biometrics solution

January 7, 2015 - 

NICE Systems announced it has launched a real-time fraud prevention solution, which enables contact centers to detect and prevent fraud in real time using voice biometrics, as well as both speech and desktop analytics.

By instantly identifying 90 percent of fraudulent callers within the first few seconds of a call, NICE Systems’ solution enables organizations to quickly investigate unauthorized transactions before they are completed.

The Real-Time Fraud Prevention solution enables organizations to identify more fraud incidents without impacting customer service, enabling them to cut down on fraud losses, improve the operational efficiency of fraud investigation teams, and achieve higher retention rates.

The NICE Engage platform-powered solution uses advanced real-time streaming and analytics to check all incoming calls against a fraudster watch list to identify if the caller is a known fraudster.

If the call is determined to be high-risk, the system immediately notifies the agent and guides him or her in real time to effectively handle the interaction.

Additionally, all high-risk interactions are sent for further investigation via the NICE Actimize Enterprise Risk Case Manager as part of the full fraud case management lifecycle.

The NICE Real-Time Fraud solution complements NICE’s Real-Time Authentication solution for rapid voice-based authentication, working together to provide better fraud detection and improved customer service.

“NICE is committed to leading the market’s adoption of real-time applications and capabilities that bring organizations significant business value,” said Miki Migdal, president of the NICE enterprise product group. “The NICE Real-Time Fraud Prevention solution leverages NICE’s unique technology to deliver a solution that enables organizations to prevent fraudulent activity in real time, at the level of the contact center interaction.”

Previously reported, NICE Systems recently unveiled Suspect Search, a video-analytics solution that can scan through footage to create an accurate virtual police lineup of persons of interest from even very large crowds.

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.