voice authentication unlocks account Source: Shutterstock.

Identity theft can be a significant and costly issue for financial institutions. To help mitigate the potential data privacy risk, credit union often look to implement data privacy technology to provide added protection for members and the organization.

To that end, two credit unions have decided to invest in just such a technology to help prevent fraudulent activity in their call centers. The Veridian Group, a wholly-owned subsidiary of the Waterloo, Iowa-based Veridian Credit Union ($4.5 billion, Waterloo, Iowa) and Texas Dow Employees Credit Union ($3.76 billion, Lake Jackson, Texas), announced a joint investment in Illuma Labs, a Plano, Texas-based provider of voice authentication. The software is designed to keep the members’ money secure, but also enable easy access to funds, according to Stephanie Sherrodd, TDECU’s president/CEO.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.