Cloud service providers Altigen and Twilio have augmented their security options with biometric voice authentication offered by Neustar and LumenVox, respectively, for enhanced fraud prevention capabilities.
Fintech Altigen deploys to Neustar customer voice authentication
Altigen, a San Jose, California-based cloud communications company, announced it has integrated voice authentication technology from TransUnion subsidiary Neustar to better secure its fintech services.
The two companies have previously cooperated on security deals, with Altigen incorporating call authentication technology from Neustar to defend banks and credit unions from spoofed phone numbers. In combination with voice biometrics, Altigen says it synthesizes into an integrated solution that first validates the phone and the caller’s number to ensure it is the customer, and will match the voice to a previously recorded voice print of the customer to further authenticate the user. .
Altigen says it took up the biometric due to an increase in fraud attempts, which led to requests from its banking customers to find alternatives to contact center agents who are vulnerable to being deceived by knowledge-based authentication. The company also references research from Feedzai, a cloud-based financial crime management platform, that claims there has been a 728 percent increase in business telephone banking fraud attacks in the past year.
“As the level of fraud attempts continue to rise, our team went to work evaluating technologies which could be implemented while leveraging our customer’s existing investment. This is an exciting development that enhances security and the customer experience at the same time, ”says Mike Plumer, vice president of sales at Altigen.
Along with the technology’s touted security benefits, Altigen adds that the voice authentication service will enhance self-service, reduce costs for the financial institution, and increase customer satisfaction.
Altigen CEO Jerry Fleming says, “We will continue to incorporate best of breed capabilities that enhance our solutions for our partners and customers. Our goal is to provide best in class solutions that continually evolve to meet the challenges our customers face. ”
LumenVox to authenticate Twilio customers with voice biometric
Germany and US-based LumenVox will enhance the customer experience of cloud communications company Twilio with a package of biometric voice recognition and speech recognition software, according to a news release.
The software bundle includes voice biometrics to authenticate customers with interactive voice response or a live customer service representative, automated speech recognition with transcription, and call progress analysis.
“We are excited to work with Twilio to enable powerful voice experiences at scale,” says Edward Miller, founder and CEO of LumenVox. “Similar to Twilio, LumenVox shares a vision to help organizations deliver improved customer experiences and enhanced engagement through speech-enabled applications.”
authentication | biometrics | call centers | cloud services | fintech | fraud prevention | LumenVox | Neustar | TransUnion | voice biometrics