AI Case Study
Bank of the West announced implementation of Pindrop's machine learning fraud detection software in its call centres
Bank of the West has turned to Pindrop to improve security and fraud detection for its call centre customer service by analysing customer voices and other call data during the phone call to determine caller authenticity.
Industry
Financial Services
Banking
Project Overview
According to Finextra, "Pindrop’s solutions will provide fraud-detection for Bank of the West customers powered through its proprietary machine learning technology. This partnership enables Bank of the West customers to continue relying on the voice channel with assurance their experience will be seamless and secure."
According to Pindrop's website, "Pindrop® Protect provides a risk score and call intelligence to the call center in the first few seconds of each call. The risk score — along with the analysis of the caller’s voice, device, and behavior — is provided to the call center’s fraud analyst team for further investigation. Pindrop’s proprietary machine learning algorithms then use feedback from the investigation to maximize solution performance."
Reported Results
Pindrop claims on its site: "From the carrier to the IVR and agent, call centers that deploy Pindrop's solutions can seamlessly authenticate legitimate callers and weed out fraudsters, while decreasing average handle times and cost per call."
Technology
Function
Legal And Compliance
Compliance
Background
Call centres providing customer service support can be prone to fraud when a caller pretends to be a legitimate customer, either through voice spoofing or security question answering.
Benefits
Data