Financial Services

Diaphonics provides the Financial Services industry with increased security, convenience and cost-savings.

Identity theft has been identified by the Federal Trade Commission as the fastest-growing crime in America, costing businesses in excess of $50 Billion in 2004. For financial services companies, the usual password and challenge questions are proving inadequate for customer verification. Passwords and PINs can be guessed or stolen, and criminals can easily gather personal information simply by viewing an account statement. The Federal Financial Institutions Examination Council has issued guidance that supports two-factor authentication solutions such as those provides by Diaphonics.

Diaphonics voice verification is more secure and convenient than current verification methods. Callers are verified quickly and accurately, simply by speaking -- an unobtrusive and convenient method of confirming identity.

Benefits

With Diaphonics' solutions, financial institution can:

  • Pro-actively fight identity theft and address FFIEC guidance
  • Reduce losses from fraudulent transactions
  • Improve audit capabilities for voice transactions
  • Save costs in the call centre by automating the verification process, thereby reducing live agent requirements.

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