Altigen Communications Inc. (OTCMKTS:ATGN) Stock Gains Momentum: Jumps 10% In a Week
Altigen Communications Inc. (OTCMKTS:ATGN) is up 10% in a week. The company has announced the enhancement of its financial services offerings with voiceprint technology. For credit unions and banks, combating fraud is a huge concern.
Market Stats
On Tuesday, ATGN stock gained 4.44% to $1.2950 with more than 41K shares, compared to its average volume of 83k shares. The stock moved within a range of $1.2200 – 1.3250 after opening trading at $1.22.
Altigen Enhances its FinTech Solutions with Voice Biometrics Security for Banks and Credit Unions
Falsely claiming to be clients, criminals try to steal bank details from help desk personnel. As per Feedzai, the world’s top cloud-based financial fraud management software, commercial mobile banking fraud incidents have increased by 728% in the last year.
Altigen introduced Neustar call verification tech in 2021 to prevent faked mobile numbers from gaining access to credit unions and banks. Voice biometrics software has now been included in Altigen’s call verification process.
The integrated solution verifies the caller’s mobile number and gadget to confirm that they are linked to the client account for which authorization is sought. Voice biometrics adds an extra degree of security by correlating the caller’s vocal print to a previously validated recording. Callers who don’t meet all of the prerequisites are refused access to the requested account. So ATGN is worth watching.
Key Quote
“Altigen has been building FinTech solutions for financial institutions for 16 years”, said Mike Plumer, Altigen’s VP of Sales. “Our IVR is sold by Fiserv and has been deployed at thousands of banks and credit unions. As the level of fraud attempts continue to rise, our team went to work evaluating technologies which could be implemented while leveraging our customer’s existing investment. This is an exciting development that enhances security and the customer experience at the same time.”
Traders Corner
ATGN stock is trading above the 20-Day and 50-Day Moving averages of $1.23 and $1.28 respectively. However, the stock is trading below the 200-Day moving average of $1.90.
