Nuance Tech Saved Clients $1B in 2018

A lot of biometric security specialists say they can help businesses to reduce fraud and save money, but Nuance Communications is backing up its own particular value proposition with some numbers: The company says that its Nuance Security Suite saved organizations over $1 billion collectively over the course of 2018.

The solution combines voice recognition, behavioral biometrics, and other metrics such as device and network data for customer authentication and fraud detection. As such, it can help to improve both security and convenience.

Royal Bank of Scotland is a recent customer that offers a strong example of the tangible benefits of this kind of security, with Nuance asserting that in less than a year, RBS has used Nuance Security Suite to screen 17 million inbound calls. Attesting to the system’s utility, RBS Group Head of Fraud Strategy and Relationship Management Jason Costain said in a statement, “The ROI from the tool is well over 300%, so as payback our technology deployment has been very impressive.”

RBS is just one example of many, with Nuance laying claim to eight of the world’s 10 largest telecommunications companies among its client network, as well as over half of the world’s biggest financial institutions. It’s a testament not only to Nuance’s solutions in particular, but to the remarkable power of biometric solutions like voice recognition and behavioral biometrics as security tools more broadly.

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March 21, 2019 – by Alex Perala