CUNA is now America’s Credit Unions. A stronger voice to advance the credit union industry.
Voice authentication and fraud prevention
Illuma, a Credit Union Service Organization (CUSO), specializes in voice authentication software that replaces traditional knowledge-based authentication practices in call centers. Illuma provides frictionless voice authentication and fraud prevention for credit union contact centers to substantially reduce call handle times, improve member experience, and increase account security.
The company’s platform, Illuma Shield™, continuously analyzes the unique characteristics of the speaker’s voice and calling device using state-of-the-art Signal Processing, Machine Learning, and Artificial Intelligence. This proprietary voice authentication system rapidly and seamlessly validates the identity of callers during natural conversation without requiring security Q&A or spoken password phrases.
Illuma helps credit unions:
Elevate member experience: More than 85% of consumers are dissatisfied with traditional knowledge based authentication (KBA) practices. Illuma Shield™ replaces this painful process with a frictionless experience, improving the member experience at credit union call centers. More than 90% of members are happy to enroll in voice authentication.
Enhance security against fraudsters and social engineers: Fraud is on the rise and fraudsters are increasingly targeting credit union call centers to take over member accounts. Illuma Shield™ raises the bar for fraudsters by orders of magnitude while eliminating the friction legitimate members go through to access their own accounts.
Improve operational efficiency: Call center agents typically spend 1-2 minutes authenticating inbound callers. Illuma Shield™ effortlessly authenticates members within the initial seconds of the call, resulting in overall reduction in call durations and hold times. By reducing the authentication portion of calls by over 80%, agents can focus on what they do best: serving members.
Illuma Shield™ makes it possible for credit union contact centers to replicate the warm, welcoming experience of the local branch by recognizing members during natural conversation. This call center solution helps eliminate invasive and time-consuming security questions while improving fraud protection for members. Call center agents unanimously agree the solution is easy to use, and Illuma Shield™ is purpose-built to be affordable, effective, secure, easy to deploy, and simple to use for credit unions.
Background: The core platform powering Illuma Shield™ has been developed with $2 million in contracts with the U.S. Department of Homeland Security. Illuma has been recognized as a top Cybersecurity Innovator and has industry endorsements in 34 U.S. states. The company has secured investment and board representation from the credit union industry. Illuma Shield™ has been showcased at multiple premier Fintech events, including FinovateSpring and FinovateFall, and won Best in Show at VentureTech 2019.
Talk to one of our CUNA Strategic Services alliance managers to learn more about Illuma. We’ll help you identify and evaluate the best solution for your credit union.
Illuma has exclusive pricing and solutions reserved for CUNA Strategic Services and the credit unions and leagues we work with.
Products & Services
Security
article
Illuma
July 16, 2024
Over a dozen layers of security are used in credit union call centers to detect and prevent fraud. Here's a look at these measures, including where voice biometrics offers benefit.
June 07, 2024
Learn how voice biometrics can remove friction from the caller experience in the contact center.
May 13, 2024
Learn how savvy identity thieves could compromise all the data in your credit union by convincing the helpdesk to assist them with a password reset.
April 02, 2024
WyHy FCU announces the outcome of deploying voice biometrics in their call center. Operational efficiency got a boost in several areas.
March 13, 2024
What is the real cost of voice authentication and how much ROI can you expect short term and long term?
February 08, 2024
What is the opportunity cost to your members when they spend time on security Q&A instead of getting to the point?
January 17, 2024
What is the REAL cost of call center security for credit unions? What are fraud losses and step-up authentication services costing your organization?
December 13, 2023
If you are still using traditional security Q&A, learn about the hidden operational costs that you are paying.
November 13, 2023
What will the future of credit unions look like as AI matures?
case study
September 27, 2023
Learn how rapid voice verification can improve member experience.
September 08, 2023
Read this simple guide to understand voice biometrics in banking, how it works, and what to consider before deployment.
July 25, 2023
The emotional dimension of member experience is why digital transformation matters.
June 21, 2023
Member experience surveys are showing a drop in satisfaction for credit union contact centers
May 23, 2023
Fraudsters and imposters are always trying to find new ways to overcome the latest security measures. For credit unions and banks that are implementing voice authentication as a better way to protect members from account takeovers, this raises an important question: Can voice synthesis software “deepfake” a person’s voice well enough to fool voice verification software?
May 04, 2023
As technology advances, so do the ways we protect our data and personal information. Traditional passwords and security Q&A methods are no longer as effective as they once were. That’s why many financial institutions, including banks and credit unions, are now doing away with passwords across some or all channels. Let’s look at what passwordless authentication is, how it works and why it’s become such a popular security measure.
April 24, 2023
Financial institutions of all sizes, from big banks to local credit unions, are now using physical traits to authenticate users and validate access to accounts. Biometrics in banking can include the use of fingerprints, facial recognition, voice recognition and more. This emerging technology provides a more secure way to protect against fraud and prevent account takeover attempts in online and call center transactions.