Verint Adds Innovative Fraud Prevention and Identity Authentication Solutions with Acquisition of Victrio; Extends Fraud and Risk Analytics Leadership
Advanced Solution Set to Help Organizations Mitigate Fraud, Reduce Loss and Safeguard Consumers, While Enabling Faster Authentication Time to Improve the Customer Experience
Victrio Named a Gartner 2013 "Cool Vendor in Security: Identity and Access Management"
MELVILLE, N.Y. and MENLO PARK, CALIF., October 29, 2013 — Verint® Systems Inc. (NASDAQ: VRNT) today announced the signing of a definitive agreement to acquire Victrio™, an innovator in fraud prevention and identity authentication solutions. The combination of Verint and Victrio advances this comprehensive solution set by combining industry-leading voice biometrics and predictive analytics with customer-centric workforce optimization (WFO) solutions, furthering the company’s strength in fraud and risk analytics.
Today, risk management, fraud prevention and identity authentication are high profile topics in more and more organizations. With an increased focus on safeguarding customer identity and private information, companies worldwide are investing in technology and services that help mitigate risk, prevent fraud, reduce fraud-related loss and improve the customer experience—all while decreasing contact center operating costs. According to Ovum, “Risk-based authentication is going to be an increasingly important requirement. It represents a more realistic approach for business users, who won't then need to present multiple credentials every time they log in.”1
Victrio solutions combine a new generation of “passive” voice biometrics with unique predictive analysis that can accurately detect fraudsters and authenticate customers without caller interruption. Its innovative voice biometrics solution is ideally suited for large financial institutions, including banks, card issuers, wealth management service providers and other organizations focused on fraud reduction. Earlier this year, Victrio was named by Gartner, Inc. as a "Cool Vendor in Security: Identity and Access Management, 2013.”2
“We’re delighted to welcome Victrio to the Verint family and are enthusiastic about what the addition of its technology brings to the existing Verint fraud and risk analytics portfolio. 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,” explains Elan Moriah, president, Verint Enterprise Intelligence Solutions™ and Video and Situation Intelligence Solutions™.
Extending Market Leadership in Fraud and Risk Analytics
Armed with Actionable Intelligence®, Verint and now Victrio customers will be uniquely positioned to identify and respond more effectively to theft, detect and take action on behaviors that don’t comply with industry regulations and company practices, and support data privacy compliance.
By delivering solutions that reduce risk, combat fraud and help ensure compliance, Verint offers an innovative approach to addressing specific areas of risk with advanced analytics technology. This supplements the company’s existing fraud and risk analytics category leadership, which already includes video analytics, facial recognition, speech and data analytics, and desktop and process analytics. Verint has comprehensive experience in fraud, risk and compliance across many industries, including specific solutions for financial services, retail, telecommunications and government.
The combined organization will take part in next week’s Voice Biometrics Conference in London, November 6-7, at Grosvenor House, a JW Marriott Hotel. To learn more about Victrio, visit www.victrio.com.
Victrio™ is a leader in voice biometric solutions for call center authentication and fraud detection. Victrio clients include leading U.S. banks and card issuers. Powered by a new generation of voice biometrics and data science, Victrio screens calls to accurately catch fraudsters and verify customers without caller interruption. Victrio systems impact overall security, customer experience, and agent costs. Victrio integrates readily with existing call recording and fraud management systems. The company is headquartered in Menlo Park, California.
About Verint Enterprise Intelligence Solutions
Verint® Enterprise Intelligence Solutions™ help organizations of all sizes capture and analyze customer interactions, sentiments and trends across multiple channels, improve performance and optimize the customer experience. The solution portfolio includes the Impact 360® Workforce Optimization™ suite and Voice of the Customer software, which serve as strategic enterprise assets for increasing customer satisfaction and loyalty, enhancing products and services, reducing operating costs and driving revenue.
About Verint Systems
Verint® (NASDAQ: VRNT) is a global leader in Actionable Intelligence® solutions. Its portfolio of Enterprise Intelligence Solutions™ and Security Intelligence Solutions™ helps organizations Make Big Data Actionable™ through the ability to capture, analyze and act on large volumes of rich, complex and often underused information sources—such as voice, video and unstructured text. With Verint solutions and value-added services, organizations of all sizes can make more timely and effective decisions. Today, more than 10,000 organizations in over 150 countries, including over 80 percent of the Fortune 100, count on Verint solutions to improve enterprise performance and make the world a safer place. Headquartered in NY, Verint has offices worldwide and an extensive global partner network. Learn more at www.verint.com.
1Ovum, Security Challenges in the Authentication Sector, August 15, 2013
2Gartner, Inc., Cool Vendors in Security: Identity and Access Management, 2013, April 29, 2013
This document contains forward-looking statements, including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint. Forward-looking statements are often identified by future or conditional words such as "will", "plans", "expects", "intends", "believes", "seeks", "estimates", or "anticipates", or by variations of such words or by similar expressions. These forward-looking statements are not guarantees of future performance and they are based on management’s expectations that involve a number of risks, uncertainties, and assumptions, any of which could cause actual results or events to differ materially from those expressed in or implied by the forward-looking statements, including risks associated with mergers and acquisitions, such as uncertainties regarding the closing of the transaction or the ability to realize the expected benefits of the transaction, as well as risks associated with related system integrations and potential asset impairments. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the year ended January 31, 2013, our Quarterly Report on Form 10-Q for the quarter ended July 31, 2013, and other filings we make with the SEC. Verint assumes no obligation to revise or update any forward-looking statement, except as otherwise required by law.
VERINT, ACTIONABLE INTELLIGENCE, MAKE BIG DATA ACTIONABLE, CUSTOMER-INSPIRED EXCELLENCE, INTELLIGENCE IN ACTION, IMPACT 360, WITNESS, VERINT VERIFIED, VOVICI, GMT, AUDIOLOG, ENTERPRISE INTELLIGENCE SOLUTIONS, SECURITY INTELLIGENCE SOLUTIONS, VOICE OF THE CUSTOMER ANALYTICS, NEXTIVA, EDGEVR, RELIANT, VANTAGE, STAR-GATE, ENGAGE, CYBERVISION, FOCALINFO, SUNTECH, and VIGIA are trademarks or registered trademarks of Verint Systems Inc. or its subsidiaries. Other trademarks mentioned are the property of their respective owners.