Tag Archive: Fraud Prevention

Can You Use Passive Voice Authentication for More Secure Helpdesk Calls?

secure helpdesk calls

At Illuma, we help community financial institutions secure banking transactions in the contact center by verifying caller identity. Keeping identity thieves out of member and customer accounts is critical. But what about keeping fraudsters out of the rest of your technology infrastructure? Is the rise in cyber threats a strong reason to add this layer […]

WyHy Federal Credit Union Reduces Verification time 83% and Cuts Abandon Rate 50%

WyHy Federal Credit Union

Overview With more than 70 years of history serving the residents of Wyoming, WyHy Federal Credit Union is a financial institution that has perfected the art of delighting small town communities with personal service. With $378M in assets under management, over 20,000 members across the state rely on WyHy to provide personalized financial services in […]

What Credit Unions Need to Know about Generative AI and Voice Cloning

voice cloning

Credit Unions are learning more every day about AI, but there is still a lot of confusion about what it means for the financial sector. Is AI a good thing or a bad thing? What is generative AI and how will it impact credit unions and community banks? What risks does it pose in the […]

Can AI “Deepfake” Software Impersonate a Voice Well Enough to Hack an Account?

deepfake voice

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 […]

Passwordless Authentication: Basics and Benefits 

passwordless authentication

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 […]