NICE Systems’ newly launched Contact Center Fraud Prevention solution demonstrates the effectiveness of a multilayered, context-aware approach to phone-based security. It offers constant fraud detection by employing voice biometric technologies in combination with interaction analytics and context analytics to detect and curtail fraud in real time.

As a leading vendor of monitoring, recording and analytics resources for contact center, NICE was already in the thick of things when it came to detecting glitches and optimizing performance. It has already cultivated a global installed base of large contact center customers. The NICE Contact Center Fraud Prevention solution assigns a voice biometrics engine the task of discovering impostors based on a database of known fraudsters.

This voice-based fraud prevention does not take place in a vacuum. It works in conjunction with NICE’s “interaction analytics” resources, which detect suspicious patterns within the conversation between agents and callers. It also takes into account contextual information or meta-data that might make a caller suspect (such the originating telephone number or the known location of the caller).

By combining voice biometrics-based caller authentication with ongoing monitoring of activities that indicate fraud, the system is able to screen all calls to detect potential fraud, serve prompts to agents to walk them through the proper steps for dealing with potential impostors and generally protect companies and their customers from experiencing fraud losses.

The solution suite even includes a Risk Case Manager. It will open an investigation ticket for a suspected fraud attempts and provide the tools required to replay elements of the conversation. It is designed as a “stand-alone” product but it is more effective when integrated with NICE Actimize’s fraud management expertise and product suite, a “best in class” (according to Tower Group) set of resources for multi-channel fraud management for banks and other financial services companies.

Opus Research is pleased to NICE taking an approach that tightly integrates voice biometrics with existing contact center and fraud prevention infrastructures. It should provide a non-disruptive and cost-justified way to put voice-based identification in the critical path of preventing fraud loss.

Categories: Articles

Tags: Voice biometrics, Contact Centers, NICE Systems, fraud prevention