Verint to acquire Victrio

Adds voice recognition, fraud detection to security offerings
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Tuesday, October 29, 2013

MENLO PARK, Calif.—When you hear “This call may be recorded for quality assurance,” chances are good that Verint is behind it. With the Oct. 29 acquisition of Victrio, Verint’s call data can now help protect customers from fraud by using advanced voice biometric technology.

“Large banks who also use our physical security solutions at the ATM level and inside the bank now have the benefit of helping fight fraud using Victrio solutions,” said Ryan Hollenbeck, senior vice president of marketing at Verint.

The system warns call center reps when something is suspicious, but it helps customers, too, said Hollenbeck.

“You don’t have to tell them your mom’s maiden name, your social security number, the address you had when you were 14, your pet’s name,” Hollenbeck said. “If you have a really highly accurate voice print, that’s a better solution for you the consumer.”

“This fits very well into our greater strategy,” Hollenbeck said “Our customers want to add voice biometrics when they buy our existing products.”

Verint products allow users to quickly and remotely scan data, he said. When integrated with ATM, teller, banking systems, access control and other physical security sensors, the system lets users quickly locate fraud and video of specific incidences, Hollenbeck said.

“Fraud has a physical side to it,” he said. Now, the company can help clients make their call centers more secure.

“This acquisition helps supplement our fraud and analytics capability,” Hollenbeck said. Victrio’s biometrics and predictive analytics expertise will help Verint augment its existing products.

Victrio’s system relies on a database of known fraudsters, converting individual voice prints into mathematical formulas, Hollenbeck said.

The technology identifies legitimate customers and illegitimate callers, saving banks money and helping consumers feel safer, said Hollenbeck, noting that Victrio’s program is reliable, with few false positives.