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Pindrop Wins Best Authentication Innovation in Aite-Novarica Groups 2022 Fraud & AML Impact Awards

By Business Wire

Business Wire
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VeriCall Technology’s unique capabilities now help businesses of all sizes to remove friction from the customer experience, protect against bad actors, and improve their overall security posture.


ATLANTA--(BUSINESS WIRE)--Pindrop, a global technology leader offering security, identity, and intelligence for every voice, has won the 2022 Fraud & AML Impact award for “Best Authentication Innovation” by Aite-Novarica Group, a global advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to the financial services industry. As a winner of the “Best Authentication Innovation” category, Pindrop is now placed in a select group of organizations that have developed innovative and disruptive solutions to help the financial services industry to defeat fraud and to improve consumer experience. Pindrop was recognized for its innovative authentication and fraud detection platform following significant service enhancements to its technology suite.

Pindrop won the award for its addition of VeriCall technology as part of its suite of technology solutions that provides automatic number identification (ANI) validation and spoof detection for call centers–and for the recent inclusion of the Pindrop Intelligence Network into the VeriCall platform offering. Specifically, the solution was recognized as a leading authentication innovation due to four key user benefits: fast implementation, low cost, clear and easy to follow return on investment, and access to enterprise-grade fraud intelligence. After adding VeriCall technology into its suite of product offerings, Pindrop offers businesses of all sizes a more robust authentication solution that supports faster, user-friendly authentication for low risk callers, better fraud protection from identified high risk callers, and more efficient call routing based on fraud scoring for each caller.

“Contact centers and financial institutions face constant risk in a fraud landscape that continues to expand. Businesses are feeling the pressure to become more proactive in identifying and preventing attacks through more robust security and authentication measures, but in ways that don’t damage a customer’s experience,” said Vijay Balasubramaniyan, CEO and co-founder of Pindrop. “Being recognized as Best Authentication Innovation by Aite-Novarica Group further validates what customers have told us for years - VeriCall technology is a game-changing tool capable of quickly restoring balance between experience and security. We’re grateful to Aite-Novarica Group for recognizing Pindrop and its VeriCall technology as an innovative and industry-leading technology solution. This inspires us to continue the hard work that goes into making our platform best-in-class.”

In its second year, the Fraud & AML Impact Awards program identifies the organizations and vendors whose new and disruptive financial crime solutions and capabilities more effectively and efficiently counter escalating financial crime threats. Award recipients and their innovations are bringing the financial services industry one step closer to triumphing over fraud, money laundering, and other illicit activity. Pindrop was selected based on a number of criteria, which were considered when scoring and ranking each entry. These criteria include:

  • Level of innovation
  • Competitive advantage
  • Market need
  • Financial crime risk mitigation
  • Impact on customer experience and operational efficiency
  • Integration and scalability
  • Future roadmap

“Organized crime continues to attack financial services firms and consumers, always finding new and clever ways to circumvent their defenses. Legacy approaches are less effective at keeping pace with, and adapting to, the escalating threat landscape,” said Chuck Subrt, Fraud & AML Practice Director at Aite-Novarica Group. “Fraud and AML executives recognize the imperative for more innovative tools that can drive meaningful intelligence, smarter decision-making, and better outcomes.”

Winners of the 2022 Fraud & AML Impact Awards were selected by a global panel of both internal and independent experts on fraud and AML. The identification of any Aite-Novarica Group award winner or finalist is not an endorsement by Aite-Novarica Group of any vendor, product, or service. The awards, which will be presented during Aite-Novarica Group’s Fifth Annual Financial Crime Forum on September 18 and 19 of 2022, recognize and celebrate the industry’s leading and impactful fraud and anti-money laundering (AML) innovations.

About Pindrop

In an increasingly digital world, Pindrop’s technology lets people use their voice to seamlessly connect to, enter and unlock new experiences while helping safeguard their privacy. Using its patented voice authentication technology, Pindrop is leading the way to the future of voice by establishing the standard for identity, security, and intelligence for voice interactions. Working with some of the world’s biggest banks, insurers, and retailers, Pindrop helps these organizations to enable its customers to quickly, conveniently, and securely connect to the information and resources they need. Its voice authentication technology analyzes features within the human voice and surrounding audio that helps its customers detect fraud and deliver exceptional customer experiences in call centers, when obtaining information from smart devices, and even when activating cars. A privately held company, Pindrop is venture-backed by Andreessen Horowitz, Citi Ventures, Felicis Ventures, CapitalG, GV, IVP, and Vitruvian Partners. Visit pindrop.com for more information.

About Aite-Novarica Group

Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us on Twitter and LinkedIn.


Contacts

Emma Clarke
SourceCode Communications
pindrop@sourcecodecomms.com
973-735-3525

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First published on Mon, Aug 15, 2022

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