Pindrop launched Protect IVR, extending its fraud monitoring and detection capabilities across the contact center.
Pindrop Protect IVR predicts fraud up to 60 days before it occurs and protects against real-time fraud attacks.
Leveraging artificial intelligence that has been trained on billions of calls over 10 years, Pindrop Protect IVR helps companies monitor and measure risk across every call and account. The solution predicts which accounts are most at risk and gives up to a 60-day advanced warning prior to an attack. By monitoring the IVR, along with contact center calls, Pindrop Protect IVR calculates an account risk status, indicating the likelihood of account takeover. Simultaneously all inbound calls are monitored for call risk and an active threat score is given. These scores can be integrated through APIs to provide enterprises intelligence without disrupting existing systems and workflows.
"This breakthrough technology is coming at exactly the moment when the industry needs it most, as call volumes spike due to COVID-19 and corporate profitability is under pressure," said Vijay Balasubramaniyan, CEO of Pindrop, in a statement. "Traditionally, IVRs were seen as a low-risk channel, allowing fraudsters to patiently mine huge amounts of personal data, effectively creating millions of tiny data breaches in otherwise secure systems. Now Pindrop can detect fraud in real time and predict attacks weeks before they happen.
"The extension of Pindrop Protect's fraud monitoring and detection capabilities into the IVR marks an important step in our journey from being an audio-based security and authentication company toward covering the entire spectrum of risk that our customers face. We're excited to continue developing industry-leading products that help our clients effectively protect their customers in an ever-evolving risk landscape," Balasubramaniyan concluded.
With Pindrop Protect, companies can do the following:
- Provide full protection for the IVR to protect against spoofing, account mining, and other reconnaissance activities;
- Detect up to 80 percent of fraudulent phone calls, even on the first call attempt, by leveraging the Pindrop Intelligence Network; and
- Predict which accounts are at-risk by identifying patterns indicating when fraudsters are working an account and fraud is likely to occur within the next 60 days.
Pindrop also unveiled Pindrop Trace, a patent-pending analytics engine based on graph analytics. This new technology powers account risk scoring on the Pindrop Protect platform to identify the most complicated fraud scams and predict cross-channel fraud up to 60 days before the fraud takes place. Using graph analytics, it processes a comprehensive set of data inputs, including detailed call and historical information, existing patented Pindrop risk engines, the Pindrop Consortium, and other enterprise data, including digital and mobile data that can connect into the platform.
With Pindrop Trace, companies can do the following:
- Gain a comprehensive picture of interrelated fraud activity across the company by connecting disparate data that might indicate fraud is happening;
- Identify even the most complicated fraud scams up to 60 days in advance with account risk scores; and
- Improve analysis by adding data from other systems.