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US bank FNBO uses Pindrop to tackle voice fraud, deepfakes

Published

6 hours ago

January 11, 2025

US bank FNBO uses Pindrop to tackle voice fraud, deepfakes

In recent years, cyber criminality and fraud against banks have been on the rise, prompting banking organisations worldwide to enhance their due diligence in managing inbound customer contacts via voice calls or web chats.

First National Bank of Omaha (FNBO) is among the many consumer and commercial banks facing these challenges daily. In response, FNBO has undergone a significant transformation in how it identifies and verifies its customers by partnering with emerging voice security specialist Pindrop.

Founded in the 1850s in Nebraska, FNBO now operates a full-service retail and business banking operation across America’s central Great Plains region. With over $30bn in assets, FNBO serves not only its own customers but also operates Visa and Mastercard credit cards for various commercial organisations.

Steve Furlong, FNBO’s director of fraud management, faces the core cyber security challenge of ensuring customer verification. He emphasizes the need to confirm the identity of the true cardholder and avoid interactions with fraudsters or impostors.

Recognizing the limitations of traditional customer verification methods, Furlong sought a more efficient solution to authenticate customers without causing unnecessary inconvenience. This led FNBO to partner with Pindrop to implement their Protect and Passport fraud detection and authentication products.

The partnership with Pindrop proved successful, with a seamless implementation process that enhanced FNBO’s ability to verify customers in real-time. Furlong praises Pindrop’s approach and the effectiveness of their solutions in providing a frictionless verification experience for FNBO’s customers.

Following the decision to streamline authentication processes based on Pindrop alerts, FNBO has seen positive results. By utilizing authentication scoring, which analyzes various data points gathered during customer interactions, FNBO can swiftly identify potential risks. If a contact is flagged as high-risk, it is escalated to a specialized fraud contact center for further scrutiny.

Despite these changes, FNBO customers have not expressed any dissatisfaction with the reduced number of authentication questions. In fact, they seem to appreciate the smoother process. The benefits of this partnership with Pindrop are evident in FNBO’s contact centers, where representatives have praised the guidance provided by the system.

Looking ahead, FNBO and Pindrop are focused on addressing emerging threats such as deepfake fraud. Recent developments in anti-deepfake technology, like Pindrop’s Pulse product, offer rapid detection of audio deepfakes in IVR systems. FNBO, having participated in the beta testing of this product, recognizes the importance of staying ahead of evolving fraud tactics.

As deepfake technology becomes more accessible, the risk of cybercrime spreading to a wider range of individuals is a growing concern. FNBO has already begun implementing deepfake detection measures and anticipates an increase in detection rates in the coming years. Additionally, FNBO is exploring advanced voice security solutions, such as live call transcription and analysis, to better protect customers from scams.

In conclusion, the partnership between FNBO and Pindrop continues to evolve, with a focus on enhancing voice security measures to combat emerging threats like deepfake fraud. As technology advances, FNBO remains committed to staying vigilant and proactive in safeguarding its customers from evolving cyber threats. Please rewrite this sentence.