Pindrop, the pioneer in voice security and authentication, today released Pindrop® Protect 4.0. At the centre of Protect 4.0 is the newly released hi-def, next generation PhoneprintingTM 2.0 technology.
Pindrop’s patented, second generation Phoneprinting™ technology analyses more than 1,380 features of a call's audio to detect the subtle anomalies that indicate fraud, and determine its true device type, geo-location, and carrier. Phoneprinting™ 2.0, coupled with accuracy enhancements which include newly expanded metadata analysis, delivers ten times the clarity in comparison to its predecessor. These upgrades enable Pindrop Protect to increase the detection rate of the most sophisticated fraudsters by 20 percent.
Pindrop® Labs’ research shows that call centres receive a fraudulent call every second. Last year, the number of fraudsters that surpassed Knowledge Based Authentication (KBA) questions was really high, with 80% of fraud attempts proving successful. However companies are still wasting swathes money on vulnerable authenticating methods. Protect 4.0 delivers a complete multi-factor anti-fraud solution to the world’s premiere call centres allowing for reduced reliance on knowledge based authentication questions. This approach allows Pindrop to continue to detect fraudsters that attempt to hide themselves. As they try to evade one technology, they illuminate themselves in another.
"At SunTrust, our mission is ‘lighting the way to financial well-being’, that means ‘client first’ so we focus on delivering the best client experience whether they are walking into our branches, using the Internet or calling us at our contact centres," said Javier Mendez, SVP of Fraud Management at SunTrust Bank. "Protecting our clients with a strong seamless multi-factor security and authentication solution, like Pindrop, in our contact centres, is how we like to delight and surprise our clients."
Pindrop Protect uses every facet of a call — audio, voice, and metadata — scoring each call based on anomaly detection and matching to existing fraud profiles using Phoneprinting™ technology, voiceprinting and the Pindrop Network™. The technology, used in concert with machine learning, a customer consortium of shared fraudsters and anonymised fraud models allows Pindrop Protect to provide a highly accurate anti-fraud solution.
“In the past few years we have seen fraud in the call centre rise more than 200% globally and during this time we have seen the tactics fraudsters use becoming more sophisticated than ever before,” said Vijay Balasubramaniyan, CEO and co-founder of Pindrop. “As costs and losses continue to rise, the C-Suite is waking up to the fact that phone security is becoming the nexus of fraud across their organisations. Protect 4.0 combines six years of data, knowledge and insights to deliver a second generation hi-def phoneprint that will make it very difficult for bad actors to continue committing a faceless crime.”