ID Analytics and Mattersight Join Forces to Address Voice-Facilitated Fraud
June 10, 2014
Companies Provide Call Centers with Comprehensive Fraud Detection
CHICAGO and SAN DIEGO – Mattersight Corporation (NASDAQ: MATR) and ID Analytics®, a leader in consumer risk management, today announced an agreement to enhance predictive fraud analytics at call centers. As part of the deal, ID Analytics will incorporate Mattersight’s speech and behavioral analytics technology into future products, enabling organizations to improve fraud detection rates in their call centers while enhancing the customer experience by eliminating the need for unnecessary authentication steps.
Voice-facilitated fraud is a rapidly growing problem as call centers are a vulnerable and lucrative point of attack for fraudsters. Sophisticated fraudsters and fraud rings are able to gather enough customer information from publicly available sources to exploit the existing authentication procedures in call centers and gain access to customer accounts.
Mattersight’s Fraud Analytics solution is designed to identify fraudsters conducting illicit activity through the contact center by recording customer calls and automatically analyzing every second of every recorded interaction, using millions of proprietary algorithms and unique behavioral models. The output of this analysis is hundreds of data attributes on every interaction, such as:
- Caller biometrics and acoustics (i.e. voiceprint, dialect, gender)
- Linguistic patterns (i.e. call reason, activity conducted, missed authentication, distress patterns)
- Non-linguistic data (i.e. response time, authentication time)
- Account contextual data (i.e. previous interaction data, caller phone number match, location match, transfer destination)
The Fraud Analytics solution leverages these data attributes in predictive models that score every recorded call for the percentage likelihood each caller is a fraudster. Mattersight also leverages a consortium database of known fraudsters’ voiceprints that callers are compared against to identify repeat fraudster activity. The result is a significant reduction in voice-facilitated fraud losses and the enhanced ability to identify and stop fraud before it occurs.
“Mattersight’s cutting-edge voice biometrics, linguistic algorithms, and our predictive analytics capabilities, combined with the power of our ID Network®, will allow us to not only improve fraud detection rates, but also to reduce the amount of friction that good customers experience when subjected to cumbersome authentication activities,” said George Gelly, chief product officer, ID Analytics.
The agreement with Mattersight enables ID Analytics to further extend the definition of identity to include voice biometrics to help predict the risk of fraud taking place in call centers.
“ID Analytics brings a wealth of credibility and knowledge in the consumer risk management space, and we’re excited to partner with them and leverage our unique technology to address the voice-facilitated fraud market,” said Kelly Conway, president and CEO of Mattersight Corporation. “This application and partnership further demonstrates the breadth and power of our algorithms and analytics.”
Mattersight is a leader in enterprise analytics focused on customer and employee interactions and behaviors. Mattersight® Behavioral Analytics captures and analyzes customer and employee interactions, employee desktop data and other contextual information to optimally route customers to the best available employee, improve operational performance, and predict future customer and employee outcomes. Mattersight’s analytics are based on millions of proprietary algorithms and the application of unique behavioral models. The company’s SaaS+ delivery model combines analytics in the cloud with deep customer partnerships to drive significant business value. Mattersight’s solutions are used by leading companies in Healthcare, Insurance, Financial Services, Telecommunications, Cable, Utilities, Education, Hospitality and Government. See What Matters™ by visiting www.Mattersight.com.
About ID Analytics, Inc.
ID Analytics is a leader in consumer risk management with patented analytics, proven expertise, and real-time insight into consumer behavior. By combining proprietary data from the ID Network®—one of the nation’s largest networks of cross-industry consumer behavioral data—with advanced science, ID Analytics provides in-depth visibility into identity risk and creditworthiness. Every day, many of the largest U.S. companies and critical government agencies rely on ID Analytics to make risk-based decisions that enhance revenue, reduce fraud, drive cost savings, and protect consumers. ID Analytics is a wholly-owned subsidiary of LifeLock, Inc. Please visit us at www.idanalytics.com.
ID Analytics and ID Network are registered trademarks of ID Analytics, Inc. All other trademarks and registered trademarks are the property of their respective holders.