Voice fraud prevention and authentication firm Pindrop’s new IVR Anti-Fraud technology increases a call center’s fraud detection capability by covering all customer voice channel interactions, the company believes.
IVR Anti-Fraud creates a risk score which identifies suspicious callers through the analysis of multiple layers of caller information. When beta testing the concept, Pindrop discovered one-third of live agent fraud calls could have been detected at the interactive voice response (IVR) stage. Pindrop detects 70 percent of fraudulent calls from the 79 percent of total calls which never leave the IVR stage.
Pindrop’s CEO and co-founder said the level of insight required to properly address call center fraud is beyond the mandate of most companies.
“Most companies do not have sufficient insights into customer IVR activity, much less the amount of fraud and unnecessary costs hiding there,” Vijay Balasubramaniyan explained. Alarmingly, our beta test with one of the top three banks in the US, showed that IVR fraud rates are on par with the growing threat of live agent phone fraud.”
“Organizations are beginning to understand that the Call Center is exposed, and what they can’t hear can hurt them.”
IVR Anti-Fraud assesses reputation, network signaling, caller behavior, Dual Tone Multi-Frequency tones, and call statistics to produce a risk score for every call.
Founded in 2011, Pindrop has raised $122 million from backers including Andreessen Horowitz, Citi Ventures and Google Capital.