February 25, 2016 -
Pindrop, a pioneer in voice-fraud prevention and authentication, recently launched IVR Anti-Fraud, making Pindrop the first and only company to offer comprehensive call center fraud detection to all customer voice channel interactions.
Interactive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and DTMF tones input via keypad.
IVR Anti-Fraud analyzes multiple layers of caller information and creates a risk score to help identify risky or suspicious callers just like Pindrop’s Fraud Detection System (FDS) solution for live agent calls which is currently the leading fraud detection solution for call centers in the financial services, retail, insurance, and government industries, protecting nearly 500 million calls each year.
Pindrop’s IVR Anti-Fraud analyzes multiple layers of caller information, including reputation, network signaling, caller behavior, Dual Tone Multi-Frequency (DTMF) tones, and call statistics, and provides a risk score for the first call and every call. Customers can then use custom step-up authentication procedures for risky calls, routing suspicious callers within or outside of the IVR.
“Most companies do not have sufficient insights into customer IVR activity, much less the amount of fraud and unnecessary costs hiding there. Alarmingly, our beta test with one of the top three banks in the US, showed that IVR fraud rates are on par with the growing threat of live agent phone fraud,” said Vijay Balasubramaniyan, Pindrop CEO and co-founder. “Organizations are beginning to understand that the Call Center is exposed, and what they can’t hear can hurt them. With the introduction of IVR Anti-Fraud, Pindrop is extending our industry leading fraud protection to the entire call center ecosystem.”
In early beta tests of IVR Anti-Fraud, Pindrop has discovered that 33 percent of live agent fraud calls could have been detected at the IVR stage. For the 79 percent of calls that would never have left the IVR to reach an agent, Pindrop detects 70 percent of fraudulent calls.