Pindrop’s Vijay Balasubramaniyan on how top bank call centers are navigating the COVID crisis
- Banks have had to deal with record call volumes while they moved their CSR staff to work from home.
- Pindrop provides voice-based authentication and fraud prevention.
When COVID hit, call volumes surged. Customers were calling their banks and financial institutions out of fear. Banks had to scale this volume while simultaneously transition their customer service staff to work from home.
Vijay Balasubramaniyan is CEO of Pindrop which provides many of the top banks and insurers with voice authentication and fraud detection. Pindrop has raised more than $200 million. Vijay joins us on the podcast to talk about the challenges in today’s banking call centers and how some of the top firms are improving outcomes and reducing fraud. We discuss how COVID is impacting the financial industry and what the ecosystem may look like on the other side of the crisis.
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The following excerpts were edited for clarity.
What Pindrop does
Pindrop provides voice authentication and security. When you call a financial institution, you’re greeted with a whole bunch of questions: what’s your date of birth? What’s your mother’s maiden name? We do away with all of that. We replace passwords, pins, questions — everything that’s the older form of security. We look at who you are based on your voice, what you have based on your device, and what you do based on your behavior.
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