LAKE BUENA VISTA, Calif.–A pair of CUSOs that have partnered on a voice authentication solution have won NACUSO’s Next Big Idea competition here.
Illuma Labs and POSH took home the title and the prize of $7,500—made available by Co-op Solutions—following a vote after six different CUSOs had pitched their offerings Shark Tank style during the NACUSO Network meeting.
During their presentation, representatives of Illuma Labs and POSH demonstrated how they are integrating the Illuma Shield passive voice authentication solution with conversational AI IVR for deployment on the self-service side of credit union call centers. The CUSOs said the solution, aimed at fraud prevention/identity verification, can recognize a member by running in the background as the member speaks with an agent and can do so on average in 12.9 seconds with a 93% verification rate.
The companies said to date no fraudsters have defeated the system where it is in place.
QCash Financial took home second place and a $2,500 prize.
Other companies participating in the competition included Dora, ChangEd, JUDI.AI, and Qoosh Technology which offers the Quilo solution.
Each of the teams made their presentations before four judges: Bill Beardsley of Michigan Business Connection; Mary Beth Spuck of Resource One Credit Union; Becky Reed of Lone Star Credit Union, and Jeffrey Staw of Open Technology Solutions.
Below, representatives of Illuma Labs and POSH accepting winning check at NACUSO Network.