Pindrop Security has won a patent for its Phoneprinting system, the company has announced. USPTO Patent No. 9,037,113 has been awarded for the anti-fraud caller authentication system.
The system is essentially meant to catch fraudsters calling into organizations like banks and the like. Its technology analyzes 147 distinct aspects of a phone call, looking at everything from background noise to VoIP packet loss to caller location. In a press release, Pindrop asserted that its Phoneprinting system is already being used “by two of the top four banks” in the US, in addition to a number of retailers and brokerages; and that it has proven capable of catching 80 percent of attempted fraudulent calls and stopping over 95 percent of potential losses from fraud.
These are bold claims, but the company’s technology was generating investor excitement even before it attained patent approval; earlier this year the company raised $35 million in a Series B round of financing. It’s also entering the market at the right time, as increasing numbers of financial institutions are looking to call analytics and voice biometrics to help cut down on fraud, and so this kind of technology is becoming much more familiar to potential clients. With its new patent approval, Pindrop’s footing is that much more firm in the area of call center fraud prevention.
june 9, 2015 – by Alex Perala