Worldwide, there is an increased focus on safeguarding customer identity and private information, which is forcing companies to invest wisely in technology and services that help mitigate risk, prevent fraud, reduce fraud-related losses, and improve the customer experience. Reports indicate that risk-based authentication is going to be an increasingly important requirement.

Verint (News - Alert) Systems, a company offering a portfolio of enterprise and security intelligence solutions, has signed an agreement to acquire Victrio, a company specializing in fraud prevention and identity authentication solutions.

The acquisition looks to advance the company’s comprehensive solution set by combining voice biometrics and predictive analytics with customer-centric workforce optimization solutions. The resulting solution will be aimed at helping organizations mitigate fraud, reduce loss and safeguard consumers while expediting authentication time to improve the customer experience.

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

Victrio solutions combine passive voice biometrics with predictive analysis that can accurately detect fraudsters and authenticate customers without caller interruption. Its voice biometrics solution is noted to be a best fit for large financial institutions, including banks, card issuers, wealth management service providers and other organizations focused on fraud reduction. The addition of such technology brings a great value to the existing Verint fraud and risk analytics portfolio.

Both Verint and Victrio customers will now be uniquely positioned to identify and respond more effectively to theft, detect and take action and support data privacy compliance.