Pindrop wins patent for phone antifraud and authentication technology
Pindrop Security announced it was awarded a patent by the U.S. Patent and Trademark Office (USPTO) for its Phoneprinting technology, which combines authentication with fraud detection technology to verify legitimate callers and detect malicious callers.
Phoneprinting analyzes 147 different audio features in each phone call, including noise, spectrum and VoIP packet loss.
Based on just 15 seconds of call audio, the solution can identify any anomalies, track callers, determine their location and device type, and identify Caller ID spoofing.
The solution can accurately detect more than 80 percent of fraudulent calls into financial and enterprise call centers and prevents more than 95 percent of potential fraud losses.
Phoneprinting has already been adopted by two of the top four banks, as well as leading brokerages and retailers in the U.S.
“Despite the fact that phone fraudsters are deploying new voice-altering technology and phone scam tactics as a means to compromise organizations and consumers, there has been little to no progress made for security on the phone channel over the last 40 years,” said Pindrop CEO Vijay Balasubramaniyan, Ph.D. “Phoneprinting provides our customers in financial and enterprise call centers with actionable, accurate information in near real-time to stop financial losses and to reduce the cost of authenticating legitimate callers.”
The USPTO Patent #9,037,113 secures the algorithm Balasubramaniyan developed to analyze calls.
Previously reported, Pindrop secured a $35 million Series B round of funding in February 2015.