NICE Systems launches Contact Center Fraud Prevention solution

Infotech Lead India: NICE Systems has launched its Contact Center Fraud Prevention solution.

According to NICE, the new solution is designed to track fraud patterns and screens phone interactions for fraud against a list of known fraudsters.

Based on NICE Actimize’s expertise in fraud, contact centers can deploy the solution as a standalone contact center solution or as part of the NICE Actimize enterprise fraud offering.

“The contact center is a prime target for fraudsters and enterprises must be prepared to ensure that this area of their business is as well protected as online transactions. By leveraging our contact center best practices with our fraud prevention practice, we were able to create an end-to-end solution that offers proactive fraud detection, real-time guidance, and integrated fraud case management,” said Yochai Rozenblat, president of the NICE Enterprise Group.

Organizations will benefit as they can reduce fraud-related losses without creating service hurdles or compromising customer experience by adopting a multi-layered approach, which includes non-intrusive voice biometrics technology, speech and transactional analytics, and real-time capabilities.

Aite Group claims that fraud in the contact center is on the rise and, while many businesses have recognized the need to protect customer data and secure online transactions, the phone channel has become a target for fraud.

Meanwhile, Datamonitor estimates that 20 percent of people who are defrauded will leave the institution at which this occurred.

Social media represents a goldmine for fraudsters. Almost every person has a digital footprint, which can be mined for nefarious purposes. Every public and private organization needs to equip their agents and other employees with tools and best practices to prevent losses.

NICE’s Contact Center Fraud Prevention solution enables businesses to pinpoint fraudulent callers according to their unique voice print by using voice biometrics to automatically cross-reference each call with a suspicious watch list of known fraudsters.

The solution also implements NICE Interaction Analytics to identify fraud patterns and social engineering attempts based on speech analytics, emotion detection, talk patterns, and interactions. Telephony and other contextual data, such as IVR events, caller location and ANI matching, also known as caller ID, are also examined to determine potential fraud.

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