FOR IMMEDIATE RELEASE – SEPTEMBER 2017
SAFPS to launch shared imposter voice bank to tighten contact centre fraud detection
The South African Fraud Prevention Service (SAFPS) is launching a highly innovative shared imposter voicebank to enhance its current service offering to its clients, which serves to substantially reduce fraudulent transactions in South African contact centres. The initiative will be piloted with select participants before rolling out nationally.
SAFPS is partnering with South Africa’s leading voice biometric authentication solutions provider OneVault and regards this initiative as a significant step towards helping combat fraud within contact centres.
“Voice Biometrics is an authentication solution that is similar to a fingerprint in that it represents an individual’s biological construct and is therefore difficult to emulate,” says Paul Hutton, OneVault CEO.
Methods of authentication have evolved from an item owned (a driver’s licence), to something known (mother’s maiden name), to an individual’s physical makeup or biometric reference point (finger print) and is known as third factor authentication.
“Thus, with a combination of two or all factors – commonly known as multi-factor authentication –it’s more difficult to commit fraud.”
The explosion of online and digital transactions has increased the demand for remote security and, more specifically, remote authentication. Hutton says, “Voice authentication is as accurate as a finger print and eliminates the need for an individual to be physically present to conclude a secure transaction.”
By using voice biometrics to automatically cross-reference each call with the shared imposter voicebank, the agent will be alerted if there is match against the ‘watch list’ and a defined process can be followed. The solution is sophisticated enough that it will trigger liveness detection functionality when artificial voice production or voice manipulation is detected.
“In the case where a legitimate customer is calling, the agent is able to identify the customer quickly and securely through a matched voice print, thus vastly improving the customer experience and overall contact centre efficiency.
All members of SAFPS are encouraged to participate in order to gain access to the recordings of known imposter calls. Imposter voices will be loaded onto this single shared database, which will then be distributed or used to trigger alerts, real-time.
“SAFPS has identified an innovative application to combat fraud through contact centres. Most fraud cases touch a contact centre at least once,” Hutton says. “The implementation of a shared imposter voicebank will have a substantial impact on combating this type of fraud.”
Hutton adds, “We will run a pilot for six months to enable us to apply necessary considerations to comply with South African regulations.”
Manie van Schalkwyk of SAFPS says, “We want to see competitors taking hands in fighting fraud. Together we can eradicate fraud in South Africa. We decided to partner with OneVault to assist in the fight against fraud as they bring exciting new technology in voice biometrics. ”
Hutton adds, “We are very excited about this partnership with SAFPS because its non-profit status gives the project credibility and allows us to participate in the fight against contact centre fraud in South Africa.”
ISSUED FOR AND ON BEHALF OF SAFPS AND ONEVAULT BY:
OF BULLION PR & COMMUNICATION
CELL: 083 271 5336