Authentify Releases Biometrics Solution to Combat Call Center Fraud

Authentify, a provider of mobile, multi-factor authentication services for protecting user accounts from unauthorized access, today announced Authentify xFA SecureCallCenter, a solution to help financial institutions fight fraud by imposters and protect call center representatives from social engineering attempts.

The new SecureCallCenter application assists mobile app users who wish to speak to a call center representative. To do so, a user logs into their copy of the institution's mobile app. The end-user then taps a call center button, which triggers Authentify xFA's biometric authentication sequence. Behind the scenes, a voice channel call is also placed to the call center. Once the user successfully authenticates, the SecureCallCenter app connects the call and passes the end user's contact and account information to a module at the call center console. The module interprets the information for the console, enabling the information to be displayed to the next representative in the queue.

“This is a unique combination of security features where digital certificates, voice biometrics and a fingerprint could be coupled for authenticating an inbound call," said Alan Dundas, Authentify's vice president of product architecture, in a statement. "There are 60,000 customer service representatives employed across just the top 20 call centers in the U.S. The majority of them are operated by financial services. If you saved each representative only five minutes a day on authentication tasks, that translates to 250,000 employee hours per week. The ROI is easy to measure."

The announcement of the new capabilities in the Authentify xFA platform is timely, given recent fraud perpetrated through banking call centers. In those attempts, imposters used stolen credit card information to activate Apple Pay accounts on new smartphones and purchase high value goods.

"The SecureCallCenter functionality provides a one-touch connection to an institution's call center," Dundas said. "As financial services customers migrate to using mobile channels as the primary connection to their accounts, reusing the authentication from the mobile app across a different contact channel makes a great deal of sense."

Authentify xFA SecureCallCenter is available and requires the Authentify xFA mobile SDK to integrate with a financial institution's own mobile app. Actual financial account information is managed by the financial institution's app and procedures, while the authentication and biometrics are managed by Authentify.

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Back in 2015, one in every 2,000 calls into a call center was fraudulent, but in 2016, that rate grew to one in every 937 calls, according to telecommunications security and research company Pindrop Lab's 2017 Call Center Fraud Report. The change represents a 113 percent increase in fraud year over year, according to Pindrop, and every fraudulent call represents a loss of roughly $0.58 for the business.

Posted May 12, 2017