Nuance Gatekeeper fights fraud with biometric security, authentication
Nuance Communications has introduced Nuance Gatekeeper, a biometric authentication solution for fraud detection now widely available, the company announced. Nuance Gatekeeper is a fully scalable cloud service that allows companies to confirm customer identity and identify scammers by analyzing specific individual features in voice, text and digital channels.
According to Nuance research, an increased number of data breaches resulting from weak passwords has enabled scammers to steal high volumes of personal information. Global fraud has therefore reached $4 trillion, with 1 in 4 people losing approximately $2,000 in the last year because of outdated security practices.
“Biometrics provide the power to secure individuals based on who they are rather than what they know. If hacked, data in the form of biometric templates is far less valuable than stored passwords because they are almost impossible to replicate,” said Dan Miller, Lead Analyst, Opus Research. “Organizations of all sizes are fighting to stay ahead of fraudsters and the increasing threat posed by synthetic impersonation. Companies find cloud-native security models to be more attractive because they are accessible, scalable and offer access to real-time updates to the newest fraud-fighting algorithms.”
Nuance’s technology was recognized by Opus Research as “undisputed market leader.” In contrast to the earlier Nuance Security Suite, Gatekeeper’s biometrics technology delivers both increased security and customer convenience.
Some essential product updates include a native cloud platform for fast cloud and on-premise deployment, the integration of the Nuance Lightning Engine, an AI-powered voice biometrics engine that authenticates a customer in half a second of audio, and the integration of Nuance ConversationPrint – an AI-enabled feature that can easily detect fraud when the scammer’s type or voice model does not match the real customer’s. Behavioral biometrics are another key update. They help create a model based on the customer’s behavior pattern, so when a scammer interferes, Gatekeeper immediately reports the activity as suspicious.
Nuance says Gatekeeper delivers flexible integration and more secure and reliable cloud native architecture to help companies stay one step ahead of online scammers. The updated Gatekeeper is introduced shortly after Nuance expanded its Intelligent Engagement Platform to conversational building blocks with biometric security for authentication and fraud detection.
“Biometrics is the future of identification and we see it as the golden ticket for organizations that want to enhance security for customers without negatively impacting the engagement experience,” said Brett Beranek, GM Security Business, Nuance Enterprise Division. “With Gatekeeper, we offer more advanced layers of protection to organizations big and small by bringing AI to the forefront and combining traditional biometrics methods with some that are newer to market – and all of it is now accessible in a cloud-native environment.”
Recently named “Best Application of AI in Financial Services” at the AIconic Awards presented by Forbes, the technology developed by Nuance has been adopted by more than 50 percent of financial institutions around the world, and 8 out of ten telecommunications companies. Its biometrics engine oversees over 8 billion authentications a year and has saved businesses over $2 billion in fraud costs, the company says.
In its most recent earnings report, Nuance surpassed both margin and EPS expectations, and reported revenue near the high end of its guidance range.