Updated voice recognition engine improves authentication rate by 30%, enhancing customer experience and call center efficiency
Company also releases updated data for Voice Intelligence and Security Report, showing 90 voice fraud attacks took place every minute in 2019
ATLANTA–(BUSINESS WIRE)–Pindrop®, the pioneer in voice security and authentication, today announced the launch of Deep Voice™ 3, the new version of its market-leading voice recognition technology. Built on advanced machine learning and deep neural networks, Deep Voice 3 is designed to more accurately recognize the voice of callers at a contact center with less speech. This allows: (1) end-users to be authenticated more quickly, (2) higher enrollment rates enabling a smoother customer experience and (3) a more efficient, secure contact center.
Deep Voice 3’s technical advances are based on the continuous innovation taking place at Pindrop. Building on its deep industry experience, Pindrop was able to combine a rearchitected neural network and an advanced training program to teach the system based on real-world learnings. This led to the development of the new version, with its advances in accuracy and speed.
Deep Voice 3 opens the door for strong authentication with brief snippets of speech. This enables numerous use cases especially in IVR and IoT applications where speech is conveyed in the form of small commands. Specifically, in IoT this enables speaker identification in as little as three syllables allowing for personalization on utterances as short as wake words (for example; ‘OK Google,’ ‘Hi Bixby,’ and ‘Alexa’).
Deep Voice 3 has been optimized to perform across a variety of acoustic and noise environments. Adapting to session variability improves authentication accuracy when handling differences in background noise conditions that exist between a caller’s enrollment and authentication calls. Pindrop has been analyzing the impact of Deep Voice 3 across a number of strategic customers who are already utilizing the Pindrop® Passport authentication solution, and many of these partners expect to see a 30% improvement on their authentication and enrollment rates.
The technology will be unveiled at the RSA Conference, taking place at the Moscone Center in San Francisco, CA on February 24-28. Pindrop will be exhibiting at booth N-5670.
“In today’s contact center, companies are working to deliver the kind of seamless customer experience that consumers get everywhere in their digital life. This means confidently authenticating more callers, and doing so at a significantly faster rate,” said Vijay Balasubramaniyan, CEO of Pindrop. “Deep Voice 3 is a crucial part of the technology that is making that possible, and taking us a step closer to frictionless identity in a voice-first world.”
Deep Voice 3 will be generally available this quarter to new customers, via the Pindrop® Passport authentication product. In the coming months, Deep Voice 3 will be incorporated into Pindrop’s anti-fraud Protect product. Pindrop’s customer base includes eight of the top 10 banks in the U.S., as well as five of the top seven insurance companies.
Updated Voice Intelligence and Security Report
Also today, Pindrop released the latest version of its Voice Intelligence and Security Report, the industry-leading report on voice fraud and authentication. The report shows that in 2019, one out of every 770 calls to contact centers was fraudulent – a rate of 90 per minute.
Key findings from the report include:
- 90 voice fraud attacks occurred per minute in 2019
- Overall voice fraud remained near its 2018 peak of one call in every 685 being fraudulent across the surveyed industries
- The banking industry saw a 15% increase in phone fraud when compared with 2018. This is particularly notable as banking remains the single largest channel for contact center calls.
“Our 2020 Voice Intelligence and Security Report shows that fraudsters are getting more sophisticated, focusing their energy on channels where they can get the biggest payday; in other words, fewer, bigger attacks,” Balasubramaniyan said. “It’s natural that fraudsters would target banks above other industries: there are more calls to banks, and the potential reward of a hacked account is greatest. In 2020, any bank that isn’t thinking about voice security is putting itself and its customers at risk.”
To read a full copy of the updated Voice Intelligence and Security report, click here [Voice Intelligence and Security Report]
Pindrop® solutions are leading the way to the future of voice by establishing the standard for identity, security, and trust for every voice interaction. Pindrop solutions protect some of the biggest banks, insurers, and retailers in the world using patented technology that extracts an unrivaled amount of intelligence from every call and voice encountered. Pindrop solutions help detect fraudsters and authenticate genuine customers, reducing fraud and operational costs, while improving customer experience and protecting brand reputation. Pindrop, a privately held company, headquartered in Atlanta, GA, was founded in 2011 by Dr. Vijay Balasubramaniyan, Dr. Paul Judge and Dr. Mustaque Ahamad and is venture-backed by Andreessen Horowitz, Citi Ventures, Felicis Ventures, CapitalG, GV, IVP and Vitruvian Partners. For more information, please visit pindrop.com.
‘OK Google’, and all related logos and marks, are trademarks of Google LLC. ‘Hi Bixby’, and all related logos and marks, are trademarks of Samsung Electronics, Co. Ltd. ‘Alexa’, and all related logos and motion marks are trademarks of Amazon.com, Inc. or its affiliates.
Willa Pearl Hahn