Press Release

Financial Plus Credit Union Augments Member Experience with Voice Authentication

Financial Plus deploys Illuma Shield™ voice verification to prevent fraud and create a seamless call center experience for members  

Plano, TX: Financial Plus Credit Union recently rolled out voice authentication software as part of its push to improve member experience in the contact center. Like many credit unions, Financial Plus had struggled with balancing ease of access with security for member accounts. With fraud attempts on the rise, it was essential to strengthen the security stance of the financial institution without compromising member experience. 

As a digital transformation champion in the credit union space, Financial Plus is an investor in Illuma’s FinTech solution through the Curql fund. Partnering with Illluma to deploy voice verification allowed the credit union to create a more seamless member experience while easily deflecting account takeover attempts using state-of-the-art biometrics and AI algorithms. 

DeAnna Wallace, SVP HR & Member Experience at Financial Plus Credit Union, explained the benefit in addressing a well-defined friction point. “We know that members dislike having to spend over a minute verifying their identity on every call. Now our agents can skip the Q&A and remove friction from the authentication process, enabling them to focus on what they do best: serving our members’ needs.”

Investing in Member Satisfaction Pays Off In Security and Streamlined Operations

Members who have their unique AudioPrint™ enrolled in the Illuma Shield™ system have their identity verified in seconds during natural conversation, while contact center agents don’t have to toggle between applications to see the verification taking place.

According to Illuma Founder and CEO, Milind Borkar, the results for Financial Plus are expected to be similar to other deployments. “Our passive voice verification platform cuts member authentication time by more than 80%. It’s much more secure than traditional Knowledge Based Authentication, and members and agents both have a very positive response to the new friction-free process.”

About Financial Plus Credit Union

Owned by over 81,000 members, Financial Plus provides a full range of modern, easily accessible banking products and services to all throughout the state of Michigan. For more information, visit www.myfpcu.com or call (800) 748-0451.

About Illuma Labs

Illuma Labs is a credit union service organization headquartered in Plano, Texas. The company’s flagship product, Illuma Shield™, replaces traditional knowledge-based authentication practices with an effortless and secure real-time voice authentication solution to enhance member experience, improve operational efficiency, and prevent fraud. Illuma Labs is the exclusive provider for CUNA Strategic Services and has industry endorsements in 34 U.S. states. For more information, visit https://illuma.cx.