Nuance Communications has added a major trophy to its mantle, taking home the prize for Best Application of AI in Financial Services at the 4th annual AIconics Awards. Presented by Forbes, the Awards honor organizations and individuals that create innovative AI products and services.
The winners were chosen by a panel of 13 independent judges, who collectively evaluated more than 300 separate entries. Nuance was recognized for its anti-fraud solutions, including its ConversationPrint and DevicePrint algorithms, which use voice and behavioral biometrics to analyze customer conversation patterns and verify their identities over the phone or online. That, in turn, allows financial organizations to spot and stop potentially fraudulent interactions.
“Winning this AIconics Award is a testament to the ROI that our customers in the financial sector have been able to garner using our industry-leading biometrics technology,” said Nuance Security Business GM and VP Brett Beranek. “Our innovations have enabled a number of financial services organizations to mitigate fraud and deliver positive operational results.”
According to Nuance, its ability to flag fraudulent transactions has saved more than $2 billion for its clients ($1 billion of those savings were credited to 2018 alone), and made their customer service more efficient. The company’s voice technology has been deployed by a number of banks and financial institutions, with Santander and Allied Irish Banks joining the roster in the past year.
September 27, 2019 – by Eric Weiss