Lloyds Banking Group and Pindrop awarded for best risk and fraud management programme

Pindrop, the pioneer in voice security and authentication, and Lloyds Banking Group have won the Gold Award for ‘best risk and fraud management programme’ at the European Contact Centre & Customer Service Awards 2017.

Nominations were invited from organisations across all sectors that have developed and implemented an effective risk or fraud management initiative for their contact or customer service centres.

The award celebrates Pindrop’s successful roll out of its primary phone fraud prevention technology, PhoneprintingTM, with Lloyds Banking Group. Lloyds Banking Group became the first European bank to implement Pindrop’s PhoneprintingTM technology in October 2016.

Martin Dodd, Lloyds Banking Group Telephony Director said, “We’ve already seen some huge benefits for customers. This year the system has identified and prevented thousands of cases of attempted fraud. It’s helped us to stop customers becoming victims by identifying signs of potential fraud using the Phoneprinting risk score.”

The patented technology creates an ‘audio fingerprint’ of each call by analysing over 1,300 unique call features – such as location, background noise, number history and call type – to highlight unusual activity, identify potential fraud and deter fraudulent callers. It cracks down on tactics like caller ID spoofing1, voice distortion2 and social engineering3 with no need for customers to provide any additional information.

Martin Dodd continues, “Protecting our customers, their money and their information is our top priority and investing in ground-breaking technology is just one of the many ways we are able to remain one step ahead of potential fraudsters. The technology has already increased detection rates of attempted fraud and, because customers don’t need to provide any additional information, it means we can continue to focus on providing customers with the best possible experience when they call us.”

Matt Peachey, Vice President & General Manager EMEA, Pindrop said, “Our Phoneprinting™ technology is highly resilient and very quickly identifies and analyses audio to flag suspicious calls. The technology also identifies multiple callers from the same phone number to identify fraud rings. It shines a spotlight on potentially fraudulent activity before it’s an issue for the organisation and the customer.”