Nuance Takes Home AIconics Award, Presented by Forbes, for Best Application of AI in Financial Services
Nuance’s AI biometrics solutions recognized for delivering breakthrough automated identity, verification and fraud detection to financial services worldwide
BURLINGTON, Mass. – September 27, 2019 – Nuance Communications, Inc. (NASDAQ: NUAN), a leader in conversational AI technology and solutions, today announced its AI-powered biometrics technology won Best Application of AI in Financial Services at the AIconics Awards presented by Forbes this week in San Francisco. Now in its fourth year, the AIconics Awards were established to recognize outstanding achievements of individuals, projects, teams and organizations that are responsible for harnessing breakthrough innovations in artificial intelligence and transforming them into incredible products and services. The AIconics Award submissions, totaling more than 300 entries, were evaluated by a panel of 13 independent judges, which included AI experts, investors, academics and enterprise end-users.
“Winning this AIconics Award is a testament to the ROI that our customers in the financial sector have been able to garner using our industry-leading biometrics technology,” said Brett Beranek, General Manager and VP, Security Business, Nuance Enterprise. “With the explosion of digital channels – such as mobile banking apps and websites – plus the continued use of traditional contact centers, financial services organizations of all sizes are faced with managing and securing an increasingly complex ecosystem. We thank the AIconics organization for recognizing our innovations, which have enabled a number of financial services organizations to successfully mitigate fraud and deliver positive financial and operational results.”
Nuance helps enterprises detect and stop omni-channel fraud through a layered offering of artificial intelligence technologies, including voice and behavioral biometrics, intelligent channel, geo and network detectors and ConversationPrint™ and DevicePrint algorithms. Together these technologies can identify legitimate customers through the sound of their voice, location, device and the way they talk, tap and type – flagging when a call or online interaction is likely fraudulent by analyzing typical conversation patterns, voice characteristics and other aspects of a communication, and identifying perpetrators whose profiles do not match those of a given customer.
Nuance biometrics solutions have delivered significant ROI to organizations worldwide – saving more than $2B annually in total fraud costs while enabling an easier, frictionless way for customers to validate their identities and access service. In less than one year’s time, one large financial institution saw 300% ROI from deploying the solution and a multinational financial services firm reported reducing agent handle time by 89 seconds after deploying the product.
Nuance technology is being implemented by more than half of the world’s largest financial institutions today, and 8 of the 10 largest global telecommunications companies. Over 400 million consumers make more than 8 billion successful authentications yearly using Nuance biometrics.
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About Nuance Communications, Inc.
Nuance Communications, Inc. (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that can understand, analyze and respond to human language to increase productivity and amplify human intelligence. With decades of domain and artificial intelligence expertise, Nuance works with thousands of organizations – in global industries that include healthcare, telecommunications, automotive, financial services, and retail – to create stronger relationships and better experiences for their customers and workforce. For more information, please visit www.nuance.com.
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Nuance Communications, Inc.