Fraud Prevention Using The Power Of Voice Biometric Analytics

….fraud costs are increasing at a faster rate than fraud risk management spend. A radical rethink is required.

David Hicks

Global Forensic Lead KPMG International

Fraudsters are adapting at the speed of new tech

Balancing an organisations’ desire to provide more interaction channels along with innovative, multimodal solutions for their customers is increasingly challenging as fraudsters continuously target any remote engagement channel that will deliver a ‘profit’.

Contact centres remain one of the single biggest targets for individual and syndicated fraud as the human touch – that is the contact centre agents themselves – are traditionally dependent on authenticating customers through knowledge-based security questions.

With the proliferation of personal information being widely available – and not very secure – fraudsters are becoming experts at social engineering and manipulating their way into accessing accounts.

Unfortunately, contact centre agents are often none the wiser until after the fact. As organisations grapple with implementing business processes to enhance the security of their remote access channels, it often comes at the expense of exhaustive security practices that negatively impact the customer’s experience.

OneVault is helping organisations address these challenges through the introduction of Fraud Scanner.

  • Fraud is the #1 threat to business growth globally
  • Most targeted industries: Insurance, Banking and Retail
  • Europay, MasterCard, and Visa reported that in 2016, one in every 937 calls was fraudulent.

How OneVault Fraud Prevention Works

STEP 01. Enrol Fraudulent Call Recordings

Enrol known or suspected fraud recordings into a watchlist with the OneVault Fraud Scanner. Multiple watchlists, capturing suspicious calls, can be created across a range of categories and we’d be happy to assist in helping you to initiate and build these lists. To ensure you capture the audio in the right format and with the relevant meta-data, OneVault will implement an Audio Collector, to manage this process for you. There is no need to touch your current voice recording platform.

STEP 02. Create Batches

This allows you to run a single watchlist (or multiple watchlists) against a specified set of audio recordings. These batches can be easily configured via the web interface, and the relevant jobs scheduled.

STEP 03. View Potential Matches

Once the batch has been completed, a list of potential matches will be provided. These are sorted by a Match Score with the highest scores at the top of the list. A Fraud Analyst can then view the details of the call and classify the result.

STEP 04. Add Notes for Future Reference

The status of the call can be updated by the Fraud Analyst, who can also add comments for future reference.

STEP 05. Expedited Review of Potential Matches

Artificial Intelligence (AI) enables potential matches to be highlighted for quicker reviews, based on OneVault’s advanced Passive Voice Biometric technology.

Standard Technical Requirements

Production (Create mirror environment for test)

Production telephony adapter server Production audio acquisition server (300 Concurrent Calls) Biometric processing server Production DB Server
CPU 8 X vCPU 16 X vCPU 16 X vCPU 4 X vCPU
Memory 8 GB 16 GB 16 GB 16 GB
Hard Drive 100 GB 100 GB 100 GB 1 TB

About OneVault

We believe that there’s advice, and there’s sound advice. Advice means well, but most often does more harm than good. Sound advice comes from wisdom, and always guarantees results. With that, our mission is to ensure that brands and customers should interact safely and efficiently, at every stage of the journey.

We aren’t consultants. We are solutions partners; dedicated to helping bolster your Intelligent Authentication process and Fraud prevention measures. Starting in South Africa, OneVault has extended its footprint into the African market & beyond; in countries such as Kenya, Tanzania, all the way to Pakistan.

Already have a voice biometric solution, but want to optimise it?