BPO Fights Self-Service Fraud with Verint Call Risk Scoring Bot
Verint (NASDAQ: VRNT), a CX Automation company, has announced significant success in combating self-service fraud using its AI-powered Call Risk Scoring Bot. A business process outsourcer (BPO) utilizing this technology reported blocking $6 million in fraudulent attempts on a state unemployment insurance payment system in July 2024 alone. The bot, part of Verint's Open Platform, proactively analyzes customer behavior data to detect and mitigate fraudulent patterns before they occur.
David Singer, Verint's global vice president of Go-to-Market, emphasized the bot's effectiveness in protecting both consumers and taxpayer dollars. This breakthrough demonstrates the tangible business outcomes achievable through AI-driven fraud prevention in self-service systems, particularly in high-risk areas like unemployment insurance programs.
Verint (NASDAQ: VRNT), un'azienda di automazione CX, ha annunciato un notevole successo nella lotta contro le frodi nel self-service utilizzando il suo Call Risk Scoring Bot alimentato dall'AI. Un fornitore di servizi aziendali (BPO) che utilizza questa tecnologia ha riportato di aver bloccato 6 milioni di dollari di tentativi fraudolenti su un sistema di pagamento di indennità di disoccupazione statale solo nel luglio 2024. Il bot, parte della piattaforma aperta di Verint, analizza proattivamente i dati sul comportamento dei clienti per rilevare e mitigare i modelli fraudolenti prima che si verifichino.
David Singer, vicepresidente globale di Go-to-Market di Verint, ha sottolineato l'efficacia del bot nella protezione sia dei consumatori che dei fondi pubblici. Questa innovazione dimostra i risultati tangibili che possono essere ottenuti grazie alla prevenzione delle frodi guidata dall'AI nei sistemi di self-service, in particolare in settori ad alto rischio come i programmi di indennità di disoccupazione.
Verint (NASDAQ: VRNT), una empresa de automatización de CX, ha anunciado un éxito significativo en la lucha contra el fraude en el autoservicio utilizando su Call Risk Scoring Bot impulsado por IA. Un proveedor de procesos empresariales (BPO) que utiliza esta tecnología informó haber bloqueado 6 millones de dólares en intentos fraudulentos en un sistema de pago de seguro de desempleo estatal solo en julio de 2024. El bot, que forma parte de la plataforma abierta de Verint, analiza de manera proactiva los datos del comportamiento de los clientes para detectar y mitigar patrones fraudulentos antes de que ocurran.
David Singer, vicepresidente global de Go-to-Market de Verint, destacó la efectividad del bot en la protección tanto de los consumidores como de los fondos de los contribuyentes. Este avance demuestra los resultados comerciales tangibles que se pueden lograr mediante la prevención del fraude impulsada por IA en sistemas de autoservicio, especialmente en áreas de alto riesgo como los programas de seguro de desempleo.
Verint (NASDAQ: VRNT), 고객 경험 자동화 회사,는 AI 기반의 통화 리스크 평가 봇을 사용하여 셀프 서비스 사기와의 전투에서 중요한 성공을 거두었다고 발표했습니다. 이 기술을 활용하는 비즈니스 프로세스 아웃소싱(BPO) 업체는 2024년 7월에만 주 실업 보험 지급 시스템에서 6백만 달러의 사기 시도를 차단했다고 보고했습니다. 이 봇은 Verint의 오픈 플랫폼의 일부로, 고객 행동 데이터를 능동적으로 분석하여 사기 패턴을 사전에 발견하고 완화합니다.
David Singer, Verint의 글로벌 시장 진출 부사장은 소비자와 납세자 자금을 보호하는 데 있어 이 봇의 효과를 강조했습니다. 이 혁신은 셀프 서비스 시스템에서 AI 기반 사기 방지를 통해 달성할 수 있는 실질적인 비즈니스 결과를 보여줍니다. 특히 실업 보험 프로그램과 같은 고위험 분야에서 그 효과가 두드러집니다.
Verint (NASDAQ: VRNT), une entreprise d'automatisation de l'expérience client, a annoncé un succès significatif dans la lutte contre la fraude dans l'auto-service grâce à son Call Risk Scoring Bot alimenté par l'IA. Un prestataire de service externalisé (BPO) utilisant cette technologie a rapporté avoir bloqué 6 millions de dollars de tentatives frauduleuses dans un système de paiement d'allocation chômage d'État rien qu'en juillet 2024. Le bot, partie intégrante de la plateforme ouverte de Verint, analyse de manière proactive les données de comportement des clients pour détecter et atténuer les modèles frauduleux avant qu'ils ne se produisent.
David Singer, vice-président mondial de Go-to-Market chez Verint, a souligné l'efficacité du bot à protéger à la fois les consommateurs et les fonds des contribuables. Cette avancée démontre les résultats commerciaux tangibles qui peuvent être atteints grâce à la prévention de fraudes pilotée par l'IA dans les systèmes d'auto-service, en particulier dans des domaines à haut risque comme les programmes d'indemnisation chômage.
Verint (NASDAQ: VRNT), ein Unternehmen für CX-Automatisierung, hat einen bedeutenden Erfolg im Kampf gegen Selbstbedienungsbetrug mit seinem KI-gestützten Call Risk Scoring Bot angekündigt. Ein Anbieter von Geschäftsprozess-Dienstleistungen (BPO), der diese Technologie einsetzt, berichtete im Juli 2024 von der Blockierung von 6 Millionen Dollar an betrügerischen Versuchen in einem staatlichen Arbeitslosenversicherungssystem. Der Bot, der Teil von Verints offener Plattform ist, analysiert proaktiv Kundendaten, um betrügerische Muster zu erkennen und zu mildern, bevor sie auftreten.
David Singer, Global Vice President Go-to-Market bei Verint, betonte die Wirksamkeit des Bots zum Schutz sowohl der Verbraucher als auch der Steuergelder. Dieser Durchbruch zeigt die greifbaren Geschäftsergebnisse, die durch KI-gesteuerte Betrugsprävention in Selbstbedienungssystemen, insbesondere in hochriskanten Bereichen wie Arbeitslosenversicherungsprogrammen, erzielt werden können.
- Verint's Call Risk Scoring Bot blocked $6 million in fraudulent attempts in one month
- The AI-powered bot proactively detects and mitigates fraud before it occurs
- The technology protects millions of consumers and safeguards taxpayer dollars
- None.
Insights
The Verint Call Risk Scoring Bot's success in blocking
However, it's important to consider that this is a single-client case study. The broader market adoption and scalability of this solution across different industries and use cases will be key factors in determining its long-term impact on Verint's financial performance. Investors should monitor future client acquisitions and the bot's performance across various sectors to gauge its true potential for Verint's bottom line.
Verint's Call Risk Scoring Bot represents a significant advancement in AI-powered fraud prevention technology. Its ability to proactively analyze customer behavior data and detect fraudulent patterns in real-time is particularly impressive. This level of sophistication is important in combating the ever-evolving tactics of fraudsters targeting self-service systems.
The bot's integration with Verint's Open Platform suggests a flexible and scalable solution that can be adapted to various industries beyond unemployment insurance. This versatility could be a key differentiator for Verint in the competitive AI and automation market. However, as AI technology rapidly evolves, Verint will need to continually innovate to maintain its competitive edge and ensure the bot remains effective against new fraud techniques.
The implementation of Verint's Call Risk Scoring Bot raises important legal considerations, particularly in the realm of data privacy and consumer protection. While the bot's effectiveness in preventing fraud is commendable, it's important to ensure that the AI's decision-making process complies with relevant regulations such as GDPR or CCPA, depending on the jurisdiction.
Additionally, there may be legal implications if the bot incorrectly flags legitimate transactions as fraudulent, potentially denying citizens their rightful unemployment benefits. Verint and its clients must have robust appeal processes in place to address such scenarios. The success of this technology could also influence future legislation around AI-powered fraud prevention in government services, potentially creating new compliance requirements or standards for companies operating in this space.
Verint AI-Powered Bot Blocks
The BPO is offering citizens a self-service tool to collect state unemployment insurance payments. As sophisticated fraudsters aggressively target such programs, the BPO chose the Verint Open Platform to deliver fraud protection for its self-service offering. Today, the Verint Call Risk Scoring Bot proactively analyzes customer behavior data and detects fraudulent patterns.
“The Verint Call Risk Scoring Bot actively detects and mitigates fraud before it occurs, delivering strong and tangible AI business outcomes. The bot now enables the BPO to protect unemployment insurance payments for millions of consumers while safeguarding tens of millions of taxpayer dollars," says Verint’s David Singer, global vice president, Go-to-Market.
Visit Verint Call Risk Scoring Bot to learn more.
About Verint
Verint® (NASDAQ: VRNT) is a leader in customer experience (CX) automation. The world’s most iconic brands - including more than 80 of the Fortune 100 companies - use the Verint Open Platform and our team of AI-powered bots to deliver tangible AI business outcomes across the enterprise.
Verint, The CX Automation Company™, is proud to be Certified™ by Great Place To Work®. Learn more at Verint.com.
This press release contains “forward-looking statements,” including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2024, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.
VERINT, VERINT DA VINCI, VERINT OPEN CCAAS, THE CX AUTOMATION COMPANY, THE CUSTOMER ENGAGEMENT COMPANY AND THE ENGAGEMENT CAPACITY GAP are trademarks of Verint Systems Inc. or its subsidiaries. Verint and other parties may also have trademark rights in other terms used herein.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240816062504/en/
Media Relations
Sue Huss
sue.huss@verint.com
Investor Relations
Matthew Frankel
matthew.frankel@verint.com
Source: Verint
FAQ
How much fraud did Verint's Call Risk Scoring Bot prevent in July 2024?
What is the primary function of Verint's Call Risk Scoring Bot?
Which Verint product did the BPO use to protect against self-service fraud?
What is Verint's stock symbol?
