ATLANTA--(BUSINESS WIRE)--Pindrop, the pioneer in voice security and authentication, today released Pindrop® Protect 4.0. At the center of Protect 4.0 is the newly released hi-def, next generation Phoneprinting™ 2.0 technology. Pindrop’s patented, second generation Phoneprinting™ technology analyzes more than 1300 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 centers in the U.S. receive a fraudulent call every second. Fraud losses, as a result, totaled $14 billion last year. Companies are also spending an additional $8 billion annually on authenticating customers. Protect 4.0 delivers a complete multi-factor anti-fraud solution to the world’s premiere call centers 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 centers," 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 centers, 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 anonymized 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 center rise more than 200% 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 organizations. 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.”
What’s New in Protect 4.0
Phoneprinting 2.0 - The second generation of phoneprinting analyzes ten times the number of audio features, from the previous generation, to create a high resolution telephony profile and detect anomalies that indicate fraud. Phoneprinting 2.0 enables Protect 4.0 to deliver up to a 20% accuracy improvement in catching the sophisticated, repeat fraudsters that do the most damage. A clearer picture of these dangerous fraudsters enable Pindrop to catch an additional $50 million in fraud losses for Pindrop’s existing customer base.
Pindrop Network - The Pindrop Network provides a robust analysis of a phone numbers, history and behavior. Using the latest machine learning techniques, the Pindrop Network™ technology is able to use informed model characteristics to develop an initial assessment of the call in real-time. The Pindrop Network has evolved to adapt with the latest research findings and data sets from multiple sources for real-time call intelligence.
Voiceprinting - Pindrop passively analyzes speech to crossmatch a caller's voice against a list of known fraudsters. Using voiceprinting we can identify repeat fraudsters and add them to a blacklist. Pindrop Protect uses this blacklist to quickly spot fraudsters on repeat attacks.
*Fraud profiles are, for the purpose of this article, defined specifically as the unique collection of Pindrop® identifiers, including phoneprints, voiceprints and recorded behavior of fraudsters.
About Pindrop
Pindrop® solutions are leading the way to the future of voice by establishing the standard for security, identity, and trust for every voice interaction. Pindrop solutions protect some of the biggest banks, insurers, and retailers in the world using patented technology that extracts an unrivaled amount of intelligence from every call encountered. Pindrop solutions help detect fraudsters and authenticate callers, reducing fraud and operational costs, while improving customer experience and protecting brand reputation. Pindrop, a privately held company, headquartered in Atlanta, GA, was founded in 2011 and is venture-backed by Andreessen Horowitz, Citi Ventures, Felicis Ventures, CapitalG, GV, and IVP. For more information, please visit pindrop.com.
