Pindrop unveils real-time, fraud intelligence system to boost call center security

The growing number of fraudulent activities has unlocked the use of technology to protect users, enterprise call centers, banks, and others in the sector, and the introduction of continuous fraud scoring is focused on reshaping how organizations defend against increasingly sophisticated threats.

Pindrop recently brought forth its new fraud detection tool, called Continuous Scoring, which is designed to analyze historical call data alongside real-time intelligence to detect more fraud with accuracy.

“Pindrop Protect Continuous Scoring is our next innovation and a major advancement in the fight against fraud,” says Rahul Sood, chief product officer at Pindrop.

“Customers have great intelligence from our Protect solution, so it was a natural evolution for Pindrop to leverage this intelligence to uncover even more fraud on their behalf. We encourage all customers to try this innovation and experience its benefits.”

Unlike traditional methods that rely on isolated snapshots of a transaction’s risk level, continuous fraud scoring offers an ongoing assessment. The method delves into behavioral patterns, risk signals, and historical data, giving organizations a real-time fraud risk assessment that evolves as fraudsters shift tactics.

Fraud in call centers is on the rise. In 2023, 20 percent of reported fraud incidents in the U.S. involved phone channels, contributing to a 55 percent year-over-year increase in high-risk calls within contact centers, according to data from the Federal Trade Commission. This increase suggests that much fraud may still be undetected, particularly during interactions through automated systems like Interactive Voice Response (IVR) channels, which are often exploited for account reconnaissance. Data indicates that up to 61 percent of account takeovers are initiated within call centers.

In a written blog post, Shawn Hall VP, product, research and engineering at Pindrop boasts the company is knowledgeable on deepfake detection and multi-factor fraud detection including Phoneprinting technology. Pindrop brought to market its voice deepfake detection tool not too long ago.

For its new fraud detection tool, early beta tests have shown promising results, the company claims, reporting that participating organizations detected 22 percent more fraud on average.

A recent report from Pindrop highlighted how continuous fraud scoring can identify fraudulent behavior by analyzing subtle anomalies in user interactions across various channels.

Instead of solely relying on static data like names, account numbers, or IP addresses, the approach detects intricate patterns in how fraudsters operate, from login times to device usage history. The company mentions that fraudsters target call centers by continually searching for vulnerabilities in business systems.

Article Topics

biometrics  |  call centers  |  deepfake detection  |  fraud prevention  |  Pindrop  |  voice analysis