Verint Adds Innovative Fraud Prevention Solutions with Acquisition of Victrio
Verint Systems Inc. announced the signing of a definitive agreement to acquire Victrio, an innovator in fraud prevention and identity authentication solutions. The combination of Verint and Victrio advances this comprehensive solution set by combining industry-leading voice biometrics and predictive analytics with customer-centric workforce optimization (WFO) solutions, furthering the company’s strength in fraud and risk analytics.
Today, risk management, fraud prevention and identity authentication are high profile topics in more and more organizations. With an increased focus on safeguarding customer identity and private information, companies worldwide are investing in technology and services that help mitigate risk, prevent fraud, reduce fraud-related loss and improve the customer experience—all while decreasing contact center operating costs. According to Ovum, “Risk-based authentication is going to be an increasingly important requirement. It represents a more realistic approach for business users, who won't then need to present multiple credentials every time they log in.”1
Victrio solutions combine a new generation of “passive” voice biometrics with unique predictive analysis that can accurately detect fraudsters and authenticate customers without caller interruption. Its innovative voice biometrics solution is ideally suited for large financial institutions, including banks, card issuers, wealth management service providers and other organizations focused on fraud reduction. Earlier this year, Victrio was named by Gartner, Inc. as a "Cool Vendor in Security: Identity and Access Management, 2013.”2
“We’re delighted to welcome Victrio to the Verint family and are enthusiastic about what the addition of its technology brings to the existing Verint fraud and risk analytics portfolio. This acquisition extends our offering and introduces a host of advanced capabilities that will enable us to offer our customers an even more comprehensive solution to address fraud and identity authentication problems head on,” explained Elan Moriah, president, Verint Enterprise Intelligence Solutions and Video and Situation Intelligence Solutions.
Armed with Actionable Intelligence, Verint and now Victrio customers will be uniquely positioned to identify and respond more effectively to theft, detect and take action on behaviors that don’t comply with industry regulations and company practices, and support data privacy compliance.
By delivering solutions that reduce risk, combat fraud and help ensure compliance, Verint offers an innovative approach to addressing specific areas of risk with advanced analytics technology. This supplements the company’s existing fraud and risk analytics category leadership, which already includes video analytics, facial recognition, speech and data analytics, and desktop and process analytics. Verint has comprehensive experience in fraud, risk and compliance across many industries, including specific solutions for financial services, retail, telecommunications and government.
1Ovum, Security Challenges in the Authentication Sector, August 15, 2013
2Gartner, Inc., Cool Vendors in Security: Identity and Access Management, 2013, April 29, 2013