Solution provides a fast and easy-to-implement approach to protect Telcos from fraudulent new customers
NEW YORK, NY, UNITED STATES, May 21, 2020 /EINPresswire.com/ — ID R&D, the award-winning biometric solutions provider offering AI-based voice, face and behavioral user authentication and anti-spoofing capabilities, today announced the release of IDFraud™ Contact Center. This highly effective yet easy to implement solution addresses the problem of subscription fraud in the contact center, whereby fraudsters use stolen or fake identities to set up new accounts and gain access to Telco services and equipment. Using ID R&D’s advanced Text Independent Voice Biometrics, the voices of new subscribers are compared against other calls to identify occurrences of the same voice with a different claimed identity.
The ID R&D product also compares new customers against a database of known fraudster voices to quickly identify individuals who try to open multiple accounts. As new accounts are determined to be fraudulently opened, those voices are also added to the database.
Telco fraud is growing as criminals find it an easier target than other financial crimes. A Europol report estimates global annual losses now top US $32 billion. There are many solutions that aim to help Telcos address the high cost of new account fraud, but IDFraud Contact Center is unique in that it doesn’t require time-consuming, costly integration with Contact Center hardware or software. As a result, it provides an extremely fast and affordable way for Telcos to bolster their fraud prevention efforts.
IDFraud Contact Center was first deployed in production at a large wireless and wireline telco in January 2020 after a one-month integration effort. Within weeks, the telco identified fraudulent new customers and began successfully denying service. The success of the solution is leading to additional deployments planned for the carrier’s operations in other countries.
“Based on the strength of ID R&D’s voice biometric technology, IDFraud offers a simple approach to a difficult challenge, solving a fraud problem that was not practical to solve in the past,” said John Amein, SVP at ID R&D. “Aside from being easy to get started and fast to deliver a strong ROI, Telcos can implement the solution without adding any friction to the new customer onboarding experience.”
Once a criminal is successful at opening an account, they typically try to attack again. In addition to checking callers against a watchlist, the solution can also identify unknown fraudsters by creating a temporary database of recent new customers to identify voices used by multiple identities. The voice biometric system can also estimate age and gender to ensure it matches the reported age and gender of the customer.
IDFraud reduces Contact Center operational costs and burden on fraud teams. It is based on best-in-class core biometric technologies, including ID R&D’s voice biometric product, IDVoice™, which finished with strong results in the 2019 NIST Speaker Recognition Evaluation.
ID R&D is a leading provider of voice biometric technology with advantages that make this solution uniquely possible:
* ID R&D’s modified x-vector and "end-to-end” neural network-based technology for Text Independent Voice Biometrics offers exceptional accuracy as evidenced by global challenges
* Advanced Speaker Diarization to quickly isolate multiple voices in call center recordings and split them into separate audio files.
* Speed of 1:N identification against a potentially large fraudster database
* Ability to work with low quality audio due to compression and noise
* Language and accent independence
IDFraud Contact Center is available now. A new 12-page whitepaper provides a detailed description of the solution. For more information, contact the ID R&D team.
Source: EIN Presswire