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Victrio Inc., a Mountain View, Calif.-based start-up company, has completed a test with a major luxury online retailer of its credit risk management product, which identifies fraudsters by the sounds of their voices, CEO Tony Rajakumar tells CardLine. Though he would not disclose specific results of that test, Rajakumar says the product, when used with other risk-management software such as Fair Isaac's Falcon Fraud Manager, could help card issuers, banks and retailers increase the number of fraud incidents they identify by 20% to 40%. The system piggy-backs onto other fraud-detection systems. It uses screened calls of known fraudsters, which a retailer or issuer would have on file at its call centers, to match the voice of a fraudster. Once the existing fraud-detection system flags an order as potentially fraudulent, the call center calls the person who ordered to verify the order. At that point, the Victrio software tries to match the voice to callers on file who have committed fraud. The system cuts the time of the verification call significantly from the usual 20 minutes, Rajakumar claims. Card issuers or retailers pay per screening, though Victrio offers volume discounts. Victrio expects the retailer that did the test to become a client.
