Pindrop Security, a pioneer in phone fraud prevention and call center authentication for banks and enterprise call centers, said it was awarded a patent by the U.S. Patent and Trademark Office for its phoneprinting technology. Pindrop Security’s newly patented phoneprinting combines authentication with fraud detection technology to verify legitimate callers and detect malicious callers.
A Graduate Company of the Advanced Technology Development Center, Pindrop Security’s phone printing system analyzes 147 distinctive audio features in each phone call, including noise, spectrum and Voice-over-Internet-protocol packet loss. The technology can identify anomalies, track callers, determine their location and device type and identify Caller ID-spoofing based on 15 seconds of call audio.
The technology, which has been adopted by two of the top four banks, as well as leading brokerages and retailers in the U.S., is able to detect more than 80 percent of fraudulent calls into financial and enterprise call centers and prevents more than 95 percent of potential fraud losses.
“Despite the fact that phone fraudsters are deploying new voice-altering technology and phone scam tactics as a means to compromise organizations and consumers, there has been little to no progress made for security on the phone channel over the last 40 years,” said Vijay Balasubramaniyan, Pindrop Security’s co-founder and chief executive officer. “Phoneprinting provides our customers in financial and enterprise call centers with actionable, accurate information in near real-time to stop financial losses and to reduce the cost of authenticating legitimate callers.”