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Nice launches voice biometric fraud prevention solution, Enacomm partners with Boku

Nice launches voice biometric fraud prevention solution, Enacomm partners with Boku

Nice and Enacomm have launched new solutions to enable their users detect and prevent fraudulent operations using more enhanced methods.

Nice said in a statement that it has unveiled Enlighten Fraud Prevention, an AI and voice biometrics-powered innovative and automatic fraud detection and exposure solution for contact centers; while Enacomm announced its partnership with Boku which will enhance fraud protection for customers of financial institutions and credit processors.

According to Nice, its new solution is a combination of Enlighten’s comprehensive Customer Engagement AI platform with the company’s voice biometrics capabilities, which allows for the possibility of continuously scanning millions of calls to accurately pinpoint suspicious behavior and uncover previously unidentified fraudsters.

The Nice Enlighten Fraud Prevention proactive system significantly reduces losses incurred through fraud as well as reduces handling time while protecting consumers and improving their user experience, the statement added.

On how the new solution works, Nice explained that it is built with strong AI interpretive and predictive models that scan millions of voice interactions over time to detect abnormal and risky behavior, including requests to change addresses or authentication methods without relying on agents to manually capture tendencies.

With this, the voice biometrics feature is then activated to expose perpetrators and create a ranked and prioritized list of suspected fraudsters. The solution is self-training, constantly learning from identified behaviors, and is continuously updating its AI models to permanently improve results, Nice says.

Barry Cooper, Nice Enterprise Group President said they were proud to come up with a market-first fraud prevention solution. “Nice Enlighten is Nice’s AI platform with models specific to the Customer Engagement domain. A number of solutions across our portfolio are being infused with AI from Nice Enlighten including our Proactive Fraudster Exposure solution,” he said.

“Nice Enlighten Fraud Prevention ensures that fraudsters are rapidly and proactively stopped in their tracks so organizations can protect their customers and their brand. We believe that by bringing AI to Fraud Prevention, we provide organizations with the agility that makes it even more difficult for the fraudsters to win,” Cooper added.

Enacomm, Boku partnership

Enacomm said the partnership heralds good news for its Fraud Control Module (FCM) users. With the deal, Enacomm’s financial institutions and credit card company customers will have the possibility of using Boku’s identity verification solutions in tandem with FCM’s voice biometrics and fraud detection to help reduce security incidents and account takeovers.

Enacomm also said its FCM will now have Boku’s technology as another security layer by being able to verify legitimate users or likely fraudsters with the help of signals from the company’s mobile network system which now powers Enacomm applications to flexibly change behavior discreetly, while ensuring that fraudsters are unable to beat the extra layer of security.

With the system, Enacomm customer servicing application can require further authentication, and based on mobile network signals from Boku, FCM users can also create new fraud rules that, when triggered, will prompt the system to perform one or more authentication actions.

“A common tactic used by fraudsters is to hijack an accountholder’s phone number and use it as proof of identity to access account information. Ensuring that a consumer has both legitimate ownership and possession of their phone number allows us to eliminate this type of fraud,” said David Jackson, Enacomm Executive Vice President of Strategic Products.

For Stuart Neal, Chief Business Officer for Identity at Boku, their partnership with Enacomm means that customers will be able to significantly “reduce if not eliminate mobile device-based fraud which frequently targets the financial services industry.”

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