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Milpitas, CA, USA, Feb 15, 2022 -- Altigen Communications Inc. (OTCQB:ATGN), a Silicon Valley-based Microsoft ISV and Cloud Solutions provider, announced it has enhanced its financial services solutions with voice print technology.

Preventing fraud is a major challenge for banks and credit unions. Criminals attempt to steal account information from contact center agents by pretending to be customers. According to Feedzai, a cloud-based financial crime management platform, in the past year alone there has been a 728% increase in business telephone banking fraud attacks.

In 2021 Altigen added call authentication technology from Neustar to block attempts to access banks and credit unions from spoofed phone numbers. Altigen has now further enhanced the call authentication process with voice biometrics technology. The integrated solution first validates the caller's phone number and device to ensure it is associated with the customer account for which access has been requested. Voice biometrics provides an additional layer of security by matching the caller's voice print to a previously authenticated recording. Callers who do not satisfy the combined requirements are denied access to the requested account.

As fraud attempts became more common, Altigen began receiving requests from its banking customers to explore ways to minimize or block exposure through contact center agents. Since much of the information used in knowledge-based authentication such as mother's maiden name is easily obtained online by criminals, stopping a fraudulent caller has become extremely difficult for agents.

"Altigen has been building FinTech solutions for financial institutions for 16 years", said Mike Plumer, Altigen's VP of Sales. "Our IVR is sold by Fiserv and has been deployed at thousands of banks and credit unions. As the level of fraud attempts continue to rise, our team went to work evaluating technologies which could be implemented while leveraging our customer's existing investment. This is an exciting development that enhances security and the customer experience at the same time."

"Over the years we've been able to develop significant knowledge and expertise in the FinTech market," said Altigen CEO Jerry Fleming. "We will continue to incorporate best of breed capabilities that enhance our solutions for our partners and customers. Our goal is to provide best in class solutions that continually evolve to meet the challenges our customers face."

Altigen call authentication with voice biometrics is available with ConvergeIT IVR and Contact Center Solutions from Fiserv.

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Posted by Veronica Silva Cusi, news correspondent
Source: https://www.accesswire.com

Date Posted: Thursday, February 17, 2022