Passive authentication and fraud prevention

Voice verification’s impact on contact center efficiency, member experience.

Illuma Founder/CEO Milind Borka recently spoke at the 2022 CUNA Operations & Member Experience and CUNA Technology Council Conference in Las Vegas.

Credit union contact centers can authenticate members by verifying what they know, what they have, and who they are. Multi-factor authentication includes verifying each of these. Verification can be done in the following ways:

  • What you know—Out of wallet questions, recent transactions
  • What you have—One-time passcodes, mobile apps
  • Who you are—Voice biometrics, face biometrics

Voice and face biometrics are the newest addition to the authentication space. The technological advancements can lead to fraud prevention that’s difficult for fraudsters to replicate.

 

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