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News : PSCU Partners with Pindrop to Fight Increasing Threat of Call Center Fraud
St. Petersburg, FL, USA, March, 2017 -- PSCU, a credit union service organization, has announced a partnership with Pindrop, a provider in voice security and caller authentication, to identify and prevent call center authentication fraud. Call center fraud happens when criminals use the phone channel to impersonate consumers to gain access to their account funds and sensitive data. ll center authentication fraud.
"Through our partnership with Pindrop, PSCU continues to protect members by investing in risk management and advanced fraud detection solutions aimed at driving down fraud losses and improving the member’s identity authentication experience," said Chuck Fagan, PSCU President and CEO. "The technology from Pindrop adds yet another layer of security and intelligence to our industry-leading risk management protocol to detect and prevent fraud."
"PSCU’s fraud detection and prevention resources stopped $146 million in fraudulent transactions last year," said Jack Lynch, PSCU SVP and Chief Risk Officer. "The partnership with Pindrop will help toughen our resistance to this emerging fraud threat in the voice channel. Our investment in new risk management technology is a key component of PSCU’s mission to support, protect and optimize every transaction we have with our Owner’s members."
"We are excited about the partnership and we look forward to supporting PSCU’s commitment to service excellence by protecting their Owners and members against the increasing fraud threats that target call centers," said Michael Hughes, Pindrop Vice President, Americas. "Over 61 percent of fraud starts with a phone call and the voice channel accounted for more than $10 billion in fraud last year in the U.S. PSCU is a proven leader in fraud and risk management best practices and we are proud to have the Pindrop technology as an integral component of their overall member authentication and risk management strategy."
"Our Owners expect our call centers to protect them from fraudulent callers, and we must implement solutions that quickly and accurately validate incoming calls," added Lynch. "Pindrop’s technology will help us add even more value to our fraud protection services and improve the overall member experience."
#contactcenterworld, @pindrop, @PSCUForward
Posted by Veronica Silva Cusi, news correspondent
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Pindrop Security provides enterprise solutions to secure phone and voice communications. Pindrop solutions reduce fraud losses and authentication expense for some of the largest call centers in the world. Pindrop’s patented Phoneprinting™ technology can identify, locate and authenticate phone devices uniquely just from the call audio thereby detecting fraudulent calls as well as verifying legitimate callers. Pindrop has been selected by the worlds largest banks, insurers, brokerages and retailers, detecting over 80% of fraud, even for attackers never seen before. Our solutions are allowing our customers to reduce call time and improve their customers experience even while reducing fraud losses. Pindrop is restoring confidence in the security of phone-based transactions.
Offering credit, debit, e-services, and contact center solutions designed for credit unions and their members.
Published: Friday, March 10, 2017
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