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Verint Releases Identity Authentication Solution

Speech Technology News Features,    Posted 14 Jul 2015

Verint Systems today released the Verint Identity Authentication and Fraud Detection solution to provide a faster and more seamless approach to customer authentication.

The solution goes beyond basic speech analytics or speaker identification, according to Steve Williams, vice president and global practice leader for identity analytics at Verint. It combines voice biometrics, speech analytics, pattern matching, and
other fraud detection technologies to identify callers as legitimate customers or potential fraudsters.

The solution "listens quietly to the voice in the background to determine if it's a real customer or a fraudster," Williams says. "It makes it easier for the agent and the customer because neither has to do anything."

According to Williams, all that is needed to secure the caller's voiceprint is his consent. With passive enrollment, the customer does not have to repeat passwords or pass phrases. Instead, the solution extracts some of the content from the natural dialoguel to create the stored voiceprint.

Active enrollments, conversely, were cumbersome and typically saw low consumer adoption, Williams says."Legitimate customers get through the process a lot quicker," he says. "And for thecompany, it gives the appearance that the organization is familiar withthe customer, that it has more intimate knowledge of you as a customer."

Verint Identity Authentication and Fraud Detection is more than a tactical solution. The solution is embedded in the company's
broader customer engagement optimization portfolio. It can be added to existing Verint call recording environments or be installed separately.

Aspart of the portfolio, it also features unification and workflow with Verint Desktop and Process Analytics to help identify and authenticate customers and provide the relevant guidance to employees as part of their engagements. Depending on where employees are in the customer engagement process, desktop and process analytics can provide specific
next-best action guidance based on identity matching scores. By leveraging other solutions, such as Verint Speech Analytics,
organizations can detect, analyze, and act on rising trends, opportunities, and anomalies.

"You want to have specific guidance in place so that the agent can take the appropriate corrective action
when a fraudster is detected," Williams points out.The solution, he adds, boasts an accuracy percentage "that is in the high nineties." The solution, Williams adds, is new for Verint, but feeds off the company'sprior success with its fraud detection solutions. "We're already handling 100 million calls per year with our fraud detection, and now we're pointing toward caller identification," he says. "We're already in this market with our call recordings, so it just makes sense to add this. It's a logical extension for us."

"Verint continues to build on its history serving the financial services industry with successful and effective identity authentication and fraud detection deployments. By extending that expertise across industries where identity theft protection and speed of authentication are criticalto the customer experience, we're helping organizations achieve their authentication objectives, reduce customer effort, enhance experiences, and reduce call handle time, which can equate to large annual savings," said Nancy Treaster, senior vice president and general manager of strategic operations at Verint Enterprise Intelligence Solutions, in a statement. "These capabilities are a logical extension to Verint Customer Engagement Optimization solutions that are designed to drive smarter interactions."

And though the current Identity Authentication and Fraud Detection solution set does not draw on Verint's advanced capabilities in the areas of data science predictive analytics, and pattern matching yet, they could be added to the solution at any time. "We've had a lot of success using this technology on the fraud detection side," Williams says.

(From: Speech Technology News

Update Date:2015-07-25