PRESS RELEASE: Pindrop Security, the pioneer in phone fraud prevention and call center authentication for banks and enterprise call centers, today announced that it is now doing business in the United Kingdom. Pindrop will officially launch their UK presence with an event on June 12 at the U.S. Embassy in London. The event will feature a presentation from Avivah Litan, Gartner Vice President and Distinguished Analyst, as well as Pindrop Security co-founder and CEO Vijay Balasubramaniyan.
According to Pindrop research, phone fraud costs financial institutions $0.57 (equivalent to £0.34) for every call received into their call center. To commit phone fraud, fraudsters rely heavily on social engineering to convince contact center representatives and customer service agents that they are a legitimate caller. Technologies like Voice over Internet Protocol (VoIP) and automated calling systems enable fraudsters to perpetrate this fraudulent activity on a massive scale. For organizations receiving tens of millions of calls each year, phone fraud can have a tremendous impact on their bottom line.
Pindrop Security’s fraud detection solution enables financial institutions to prevent fraud by identifying fraudulent calls and malicious callers. Combining its patent-pending Phoneprinting technology with authentication techniques like voice biometrics, Pindrop can confirm the identity, location, and type of device used for inbound calls, enabling an organization to more quickly identify and re-route fraudulent phone calls to anti-fraud teams. Pindrop’s technology is the only solution that consistently identifies fraudsters based on anomalies in their phone calls, and is used to protect some of the largest financial institutions in the United States.
“Fighting phone fraud, as well as more effectively authenticating customers, is a priority for financial institutions globally. London is at the center of the global financial market, so it’s not surprising that demand for Pindrop in the UK has been very high,” said Vijay Balasubramaniyan, co-founder and CEO, Pindrop Security. “Our expansion into the United Kingdom is part of our strategy to fight phone fraud globally.”
Pindrop Security, headquartered in Atlanta, Ga., is a privately-held company that provides enterprise solutions that help prevent phone-based fraud. Its breakthrough phoneprinting technology can identify phone devices uniquely just from the call audio thereby detecting fraudulent calls as well as authenticating legitimate callers. We have helped enterprises eliminate financial losses and reduce operational costs on their phone channel. Pindrop’s customers include two of the top five banks and one of the leading online brokerages. Named SC Magazine 2013 Rookie Security Company of the Year, a Gartner “Cool Vendor” in Enterprise Unified Communications and Network Services for 2012 and one of the 10 Most Innovative Companies at the 2012 RSA conference, Pindrop Security’s solutions restore enterprises’ confidence in the security of phone-based transactions.