Verint announces acquisition of Victrio

Verint Systems announced on Tuesday that it has entered into an agreement to acquire fraud prevention and identity authentication solutions provider Victrio.

According to a statement, the integration of the companies’ technologies will create a comprehensive solution set for end users by combining voice biometrics and predictive analytics with customer-centric workforce optimization solutions.

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 a research report published earlier this year by 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.”

Victrio solutions combine “passive” voice biometrics with unique predictive analysis that can accurately detect fraudsters and authenticate customers without caller interruption. Its 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.”

“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,” said Elan Moriah, president, Verint Enterprise Intelligence Solutions and Video and Situation Intelligence Solutions.”