Shop Direct has signed a contract to voice security and authentication technology from Pindrop to detect fraud on phone calls.
Pindrop’s audio “fingerprinting” technology will be used to help the online retailer improve customer service, detect fraud and deliver a more efficient customer experience.
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Pindrop’s patented phoneprinting technology creates an “audio fingerprint” of each call by analysing over 1,380 unique call features, such as voice, location, background noise, number history and call type
The company claims its phoneprinting technology highlights unusual activity, identifies potential fraud and deters fraudulent callers, enabling call centres to identify fraudulent tactics like caller ID spoofing, voice distortion and social engineering with no need for customers to provide any additional information.
The technology can also identify multiple callers associated with the same phone number, allowing the detection and tracking of fraud rings. This shines a spotlight on fraudulent activity in e-tail before it becomes an issue, the company claimed.
Neil Chandler, CEO of financial services at Shop Direct, said: “Protecting our customers is our priority and investing in technology like this is one of the ways we can stay a step ahead of fraudsters. Our partnership with Pindrop will let us further strengthen our security, whilst reducing call times for customers.”
Nick Gaubitch, Research Director at Pindrop, said: “Our Phoneprinting technology identifies and analyses a call’s audio in real time to indicate if a caller is suspicious.”
According to research from Pindrop Labs, one in every 491 calls to a retail contact centre is fraudulent. Pindrop said the technology often deployed to tackle fraud and identity spoofing are not able to fend off aggressive fraudsters. Through the contract with Pindrop and voice security provider Aeriandi, Shop Direct will be able to multi-factor protection for customers on the phone.
Pindrop’s technology has so far helped Shop Direct further increase its detection rates for phone fraud.
With new voice authentication technology being rolled out in the latest smartphones, more businesses are looking at voice as a security measure for two-factor authentication.
Voice is increasingly being deployed for biometric authentication. As Computer Weekly has previously reported, First Direct has begun offering UK customers a service to make payments using voice instructions without the need to open a banking app or enter a password using Apple’s Siri voice technology.