Voice Biometrics and an IVR System Can Prevent Fraud
August 17, 2011
By Juliana Kenny, TMCnet Managing Editor
The benefits of voice recognition software are being increasingly highlighted these days as businesses explore various self-service, interactive voice response (IVR), and speech software solutions to improve their operational processes and overall customer strategies.
Lately, voice biometrics has entered this field of IVR technology, and it is burgeoning ahead in an industry that is extending its reach across consumers to the banking and military sectors. In a recent article for TMC (News - Alert), Susan Campbell reported, “When used as an identification tool, IVR can become an important part of innovation applications, providing access control tools for specific industries, and monitoring tools in others. Voice biometrics is increasingly emerging as a potential means of reducing the fraudulent use of credit cards when making purchases online.”
Using voice biometrics, companies such as banks can implement software that will be able to recognize a caller’s identity through a series of questions before the caller even reaches a live agent. These self-service tools can dramatically cut back costs in a call or contact center as agents no longer have to go through the laborious identification process to deflect fraudulent transactions.
In a helpful article by Michiel Van Kets on voice recognition technology, he states, “The latest advancements in voice recognition technology use voice biometrics which recognizes a caller’s voice and handles the routine tasks generally carried out by the agent at the beginning of the call, such as asking for personal details and checking security questions. Security is also improved as personal details can't be copied by fraudsters, and it guarantees a caller can't have any kind of influence over the call agent by manipulating, or intimidating them, into providing information to which they are not entitled.”
Interact, Inc.’s globally renowned IVR systems have been used by organizations in the financial sector for years effectively preventing fraudulency and enhancing security. With features that retain customer-sensitive information including biometric access, ANI authentication, HTTPS integration, or SFTP integration, Interact’s solutions are also able to integrate real-time activity for customers.
As voice biometrics continue to become an expected part of every IVR system, look to experts such as Interact for tips and help on the steps to take to best take advantage of what your IVR system can do for you and your organization.
Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO (News - Alert) West 2011, taking place Sept. 13-15, 2011, in Austin, Texas. ITEXPO offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. To register, click here.
Juliana Kenny graduated from the University of Connecticut with a double degree in English and French. After managing a small company for two years, she joined TMC as a Web Editor for TMCnet. Juliana currently focuses on the call center and CRM industries, but she also writes about cloud telephony and network gear including softswitches.
Edited by Tammy Wolf