Case Study: HealthEquity achieves 90% voice fraud reduction with Pindrop

HealthEquity cuts voice fraud by over 90% with Pindrop

HealthEquity, one of the nation's largest health savings account administrators, anticipated that AI-powered fraud attacks would target its voice channel. The company needed to strengthen its security measures to catch these attacks but refused to sacrifice its world-class, member-first customer experience. To address this challenge, HealthEquity partnered with vendor Pindrop.

The solution implemented by Pindrop involved adding AI-powered risk analysis to operate passively in the background of calls. The Pindrop Platform analyzed signals like spoofing indicators and voice patterns to generate real-time risk scores, shifting authentication from one-time questions to continuous verification. This resulted in a 90% reduction in fraud over the voice channel, an IVR profile match rate increase from 31% to 71%, and an authentication rate of over 91%, all while maintaining efficient calls and high customer satisfaction for legitimate members.

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