In an era where cyber attacks are only gaining in frequency, Pindrop Security out of Atlanta, GA is creating new ways to make phone and voice communications secure. The company's patented Phoneprinting technology can "identify, locate and authenticate phone devices uniquely just from the call audio" allowing call centers around the world to not only detect fraudulent callers, but also verify legitimate ones.
Founder, Chief Technology Officer and Chief Executive Officer Vijay Balasubramaniyan says consumers lose roughly $11.8 billion to identity theft via the phone. With Pindrop Security, call centers at banks, insurance agencies, retailers and other agencies are secured for legitimate callers.
"Pindrop's technology does several things that have not been done before," Matt Anthony, Vice President of Marketing, says. "First, it analyzes the audio of a phone call, including voices and the background noise. This is important because it's the only thing you are sure to get on every phone call."
Anthony continues to explain that most carriers don't include metadata and you can't be guaranteed that the phone numbers showing up are actually the numbers calling. There's a technique called spoofing that allows a different phone number to appear. Pindrop's technology can pick up on spoofing and other forms of suspicious behavior, including voice distortion and association with fraudulent activity, and can alert based on that behavior.
"This means we catch attackers the first time they call," Anthony says. "We don't need to have identified them some other way in order to catch them (as is the case with pure voice biometrics solutions)."
Anthony says Pindrop is so accurate that they catch more than 80% of fraud calls with an astounding less than 1% false alert. Pindrop Security holds several patents in their technology, with more in process. They pride themselves on staffing some of the best in the business. Anthony even says the non-technology staff has experience at other technical companies. This knowledgeable staff ensures that they are always on their toes, keeping those false alerts to a minimum no matter how clever the attackers get.
"Fraudsters are innovative and always come up with new attacks," Anthony says. "We have to be creative enough to look for indicators such as dropping catch rates and then identify what changed. There is a great deal of research done on core fraudster activity and this is also a way to keep up."
When asked if he believes Atlanta is at the forefront of fraud detection and cyber-security, he responded with a simple and straightforward, "Absolutely."