GoResponse Telephone Answering Service Staff

Pindrop bolsters security services with new board members

WorkPindrop, a firm that provides telephone answering services with security solutions to reduce fraud, has announced two new additions to its board. Andreessen Horowitz General Partner Martin Casado and Cisco Executive Chairman John Chambers will help to develop the firm further, giving call centres even safer measures to protect both themselves and consumers from criminal activity.

Call centres fraud is on the rise. In fact, it is estimated to be growing by over 100 per cent year on year. During 2016, the US alone saw $10bn worth of fraud losses. Therefore, it is essential for call centres to protect their businesses, and this can be done with modern technology. Pindrop, for example, offers Phoneprinting technology that is capable of catching up to 80 per cent of fraudulent calls.

Traditionally, firms could protect themselves by asking consumers to authenticate themselves with a password, their mother’s maiden name and a first pet’s name. However, due to ongoing online hacking, even low-level criminals have often gained access to this sensitive information. Data from Pindrop suggests that whilst 2015 saw fraud incidence rates of 1 in 2,000 calls, this has worsened to 1 in 937 just one year later.

Talking about Pindrop, new board member John Chambers said: “From my first interaction with Vijay Balasubramaniyan, Pindrop’s CEO and co-founder, I was taken by his vision and passion for tackling hard problems. In 2016, Pindrop doubled their customer base, solving massive security problems for Fortune 500 companies.” He added that by investing in Pindrop, he was hoping to help “drive the voice revolution.”

award winning