May 19 2017
Nuance Communications, Inc. today took a major step towards reducing the risk of consumer fraud by announcing a new suite of biometric security solutions, driven by the latest in artificial intelligence (AI) innovations.
The new Nuance Security Suite includes not only the company’s award-winning voice biometrics technology, but also new advances in facial and behavioral biometrics that combine to provide advanced protection against fraud, across customer service channels.
Applying deep neural networks (DNN) as well as advanced algorithms to detect synthetic speech attacks, and integrating facial and behavioral biometrics means the Nuance Security Suite takes fraud prevention to new levels. By combining a range of physical, behavioral, and digital characteristics to provide secure authentication and more accurately detect fraud across multiple channels – from the phone to the Web, mobile apps and more – Nuance’s new Security Suite allows enterprises to attack fraud head-on, while at the same time offering an improved customer experience.
With synthetic speech attacks a perceived concern as new vendors introduce off-the-shelf solutions to create synthetic voices with minimal samplings of live audio, the new Nuance Security Suite delivers improved synthetic speech detection capabilities, an innovation that Nuance was first to introduce in 2014. In fact, the latest release includes a 45% to 55% improvement in synthetic speech detection, and Nuance’s research organization will continue to stay focused and invested in improving this core technology to help customers stay one step ahead of fraudsters.
In addition to attacking fraud, Nuance Security Suite improves security and customer experience over traditional methods of authentication – such as simple user names and passwords – and reduces the risk of hacking and data breaches, with a multi-modal, biometric approach that makes life easier for both the enterprise and the consumer. By removing the need to remember or manage complex password systems, and enabling layered biometric authentication across channels, the Nuance Security Suite allows even the highest risk transactions to be performed with ease.
With its latest Security Suite, Nuance can equip an organization with one or more of the following options to fight fraud, improve security and boost the customer experience:
- Voice biometrics – authenticates the customer when they say a predetermined phrase like “My voice is my password,” or during the course of normal conversation with an agent to determine if the customer is indeed who they say they are.
- Facial biometrics – utilizes the camera on a smart phone to verify the person in real time.
- Behavioral biometrics – tracks how users interact with Web and mobile applications, (e.g. scrolling, mousing, or tapping), creating a pattern against which to compare.
- Additional biometric modalities – In addition to offering support for voice, facial, and behavioral biometrics, the Nuance Security Suite can also accept plug-ins for other emerging authentication technologies such as retinal scans.
“Already this year, around the world, some 150 million people have made more than one billion successful voice authentications using Nuance biometrics technology, with not one reported act of fraud,” said Brett Beranek, Director, Product Strategy, Biometric Security at Nuance. “We have been leading this market for many years and across many industries. By adding facial and behavioral biometrics to our portfolio, we are delivering more options for our enterprise customers, more convenience for their customers, and more protection for everyone.”
Tackling Fraud Head On
Consumer fraud is a major issue across the globe. Recent surveys have revealed that more than 50% of Americans have reported being a victim of some type of fraud or data breach, and that 25% of US consumers stopped doing business with an organization following a fraud occurrence.
“Fraud continues to be a serious global problem, and it is having a major impact on consumers,” said Robert Weideman, senior vice president, general manager, Enterprise Division, Nuance. “Enterprises have a real opportunity – today more than ever – to take a more aggressive stance when it comes to fighting fraud. They must do this not only to drive down the exorbitant costs related to fraud, but also to rebuild consumer trust. The damage caused by fraud is not just restricted to the financial cost – the reputational damage can last far longer.”
Biometrics technology is being embraced worldwide to not only provide a more secure and seamless authentication experience, but also to reduce fraud with compelling results:
- A top five US bank prevented $6.2M in annual fraud loss
- A top five UK bank saw a 59% decrease in account takeover within 30 days of deploying Nuance’s Security Suite
- A top five US telecom saw a 20% decrease in fraud losses within 30 days of deploying voice biometrics
Nuance’s Security Suite has been adopted globally by large organizations, such as the Australian Tax Office, Barclays, ING Netherlands, Tangerine Bank, Tatra Banka, Turkcell, Vodacom South Africa and many more.
Source: http://www.nuance.com/about-us/newsroom/press-releases/nuance-strengthens-biometrics-security-portfolio.html