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Illuma

Voice authentication and fraud prevention

Who is Illuma?

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.  

 

How a strategic alliance with Illuma benefits credit unions

Illuma helps credit unions:

  1. 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. 

  2. 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. 

  3. 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. 

Why choose Illuma

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.

Connect with Illuma

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.

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Read this simple guide to understand voice biometrics in banking, how it works, and what to consider before deployment.

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Credit Union Contact Center Member Experience is Declining

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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?

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Passwordless Authentication: Basics and Benefits

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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.

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Biometrics in Banking and Credit Union Security

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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.

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2023: Biometrics & Privacy Laws for Voice Recognition Technology

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April 06, 2023

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Credit Union Lowers Hold Times & Escalations with Voice Authentication

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March 13, 2023

Needing a quick solution to hiring shortages, security risks, and member complaints, Dort identified voice verification to solve several interconnected challenges at once.

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Connexus Credit Union Saves 9,500+ hours in 16 months With Voice Authentication

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January 10, 2023

“Illuma Shield™ has allowed us to shorten our average call time by over a minute. It helps the member save an extra minute on the phone, and it helps us get through more calls more quickly. Operational expenses go down, agent productivity goes up, and all of that is wrapped in the package of a better, more exceptional experience for the member.” – Chad Rogers, EVP and COO

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Voice authentication for fraud prevention in contact center environments

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December 27, 2022

Voice authentication is rapidly becoming the preferred method of verification in contact centers to balance member experience and fraud prevention.