NICE Unveiled Voice Biometrics Technology for Fraud Prevention

9 January, 2013

The solution identify fraud patterns and social engineering attempts, based on speech analytics, emotion detection, talk patterns, and interactions

“The contact center is a prime target for fraudsters”

NICE-SYSTEMS-SPEECH-ANALYTICSNICE Systems from Raanana, Israel, announced the launch of a Contact Center Fraud Prevention solution, which tracks fraud patterns and screens all phone interactions, against a watch list of known fraudsters. The solution can be deployed as a standalone contact center solution or as part of the NICE Actimize enterprise fraud product.

NICE’s Contact Center Fraud Prevention solution enables businesses to pinpoint fraudulent callers according to their unique voice print by using voice biometrics to automatically cross-reference each call with a suspicious watch list of known fraudsters.

The solution also implements NICE Interaction Analytics, to identify fraud patterns and social engineering attempts based on speech analytics, emotion detection, talk patterns, and interactions.

For example, shouting at the agent or trying to change an address or phone number could be part of a fraudulent behavior pattern, and certain keywords may raise a red flag. Telephony and other contextual data, such as IVR events, caller location and ANI matching, also known as caller ID, are also examined to determine potential fraud.

The system works in a multi-layered approach, which includes non-intrusive voice biometrics technology, speech and transactional analytics, and real-time capabilities. Fraudsters often use social engineering by leveraging information available on social networks, enabling them to manipulate and trick customer service agents who continue to verify caller identity through traditional means.

Aite Group claims that fraud in the contact center is on the rise and, while many businesses have recognized the need to protect customer data and secure online transactions, the phone channel has become a target for fraud. Datamonitor estimates that 20% of people who are defrauded, will leave the institution at which this occurred.

“The contact center is a prime target for fraudsters,” said Yochai Rozenblat, president of the NICE Enterprise Group. “We believe that our fraud prevention technology will help businesses boost their reputations, protect their customer base, and significantly reduce fraud losses.”

Share via Whatsapp

Posted in: News , Software and IT , Technology

Other articles you might like

DigiKey to provide STM32 second generation MPU

CEVA Announces CEO Transition Plan

These Old Warhorses Refuse to Retire