Fraudsters often try to connect with contact centers, like reaching out to a company’s IVR system to see if they can gain additional information about an account such as a PIN that can be used to complete an account takeover or to steal larger sums.
Our Adaptive Fraud Prevention Solution is able to use 60 different variables to identify the early signs of fraud behavior before fraud actually happens including call velocity and duration, interaction and exit point data, caller history, and acceleration of activity from a single phone over a short period of time.
For instance, fraudsters often use autodialers to contact IVR systems to probe for additional account data, making nearly seven or eight calls a minute. Our technology can flag this behavior before the fraudster is able to get any information they are seeking.
Our first clients to use Adaptive Fraud Prevention have been issuers and processing state and federal government prepaid benefits cards programs. So far, they are thrilled with the results.
Fraudsters are actively engaged to attack even the most secure systems and controls, with the odds in their favor if no one is watching. Stopping fraudsters in their tracks by adapting to their changing patterns of behavior is part of our business. We have been successfully addressing fraud risk for programs with millions of card holders for many years, and we now have the ability to deliver more power fraud prevention in the IVR that benefits contact center operations, fraud managers, and our clients’ bottom lines.