FinovateFall Digital 2020 Sneak Peek: Illuma Labs

A look at the companies demoing at FinovateFall Digital on September 14 through 16, 2020. Register today and save your spot.

Illuma Labs’ Illuma Shield provides passive voice authentication for call centers. It elevates the user experience, enhances security against fraudsters, and improves operational efficiency.

Features

  • Elevates user experience with frictionless authentication
  • Reduces average handle time, hold times, and abandon rates
  • Enhances security against fraudsters

Why it’s great
A passive voice authentication for call centers.

Presenters

Milind Borkar, CEO & Founder
Borkar has over a decade of experience spanning R&D and marketing, and leads the IP and business development activities for the company.
LinkedIn

Jeremy Whittington, CTO & Co-Founder
Whittington has over 20 years of experience architecting SaaS applications, and leads architecture and product development activities for the company.
LinkedIn

Voice Authentication Specialist Illuma Labs Secures New Investment

Photo by Mirza Causevic from Pexels

Illuma Labs, creator of the real-time audio authentication platform for secure voice communications, Illuma Shield, has received a joint investment from The Veridian Group (a CUSO of Veridian Cedit Union) and Texas Dow Employees Credit Union (TDECU). Terms of the funding were not disclosed.

The investment comes as a result of Illuma Labs’ participation in VentureTech, an annual program that helps fintechs seeking funding to secure investment opportunities from within the credit union industry. Illuma was part of VentureTech’s 2019 cohort, which also featured fellow Finovate alums Wizely Finance, Terafina, Plinqit, and Pinkaloo. VentureTech was launched by The Veridian Group, Open Technology Solutions, and CUNA Strategic Services in 2018, and will hold its third event this fall.

“Instead of waiting for technology to come to market, VentureTech allows the credit union industry to be proactive in building its competitive advantage in the digital space,” President of The Veridian Group, Nick Evens explained at last year’s conference, which saw Illuma Labs take home top honors. “By recognizing and investing in promising fintech, we’re providing innovative, digital-first solutions that will drive the Movement forward.”

Iowa-based Veridian Credit Union, the FI served by The Veridian Group, has more than 244,000 members and $4.5 billion in assets. Texas Dow Employees Credit Union, with $3.7 billion in assets and more than 263,000 members, is the biggest credit union in the Houston, Texas area, and the fourth largest CU in the state.

Founded in 2016 and making its Finovate debut last year at FinovateSpring, Illuma Labs provides real-time voice authentication for customers around the world. With a technology that has its origins in R&D projects with the U.S. Department of Homeland Security Science and Technology Directorate, the company’s solutions support secure communications in verticals ranging from financial services and insurance to e-commerce. Illuma Shield, the company’s flagship solution, leverages signal processing, machine learning, and AI to offer call centers a real-time voice authentication solution that analyzes voices in natural conversation and provides a high authentication accuracy rate in a short period of time.

Headquartered in Plano, Texas, Illuma Labs was founded in 2016 by Milind Borkar (CEO) and Jeremy Whittington (CTO).

FinovateFall Sneak Peek: Illuma Labs

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

Illuma Labs’ Illuma Shield provides passive voice authentication for call centers. It reduces operating costs, enhances security against fraudsters, and eliminates friction from the customer experience.

Features

  • Reduce average handle time and operating costs
  • Enhance security against fraudsters and social engineers
  • Elevate user experience by eliminating friction in the authentication process

Presenters

Milind Borkar, Founder & CEO
Borkar has over a decade of experience spanning R&D and marketing, and leads the IP and business development activities for the company.
LinkedIn

Jeremy Whittington, Co-Founder & CTO
Whittington has over 20 years of experience architecting SaaS applications, and leads architecture and product development activities for the company.
LinkedIn

Finovate Alumni News

On Finovate.com

  • Mambu and nCino Co-Create Banking Solution for B-North.
  • Kabbage Acquires Radius, Adding Insights of Millions of SMEs to its Platform.

Around the web

  • Paysend reaches one million customer mark for its card-to-card money transfer service, Global Transfers.
  • Tinkoff goes live with Pulse, a free social network for investors.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateSpring Sneak Peek: Illuma Labs

A look at the companies demoing at FinovateFall Digital on September 14 through 16, 2020. Register today and save your spot.

Illuma Access from Illuma Labs enables real-time voice authentication to secure inbound phone calls for call centers. It reduces call duration, improves security, and eliminates friction from customer interactions.

Features

  • Reduce average handle time and operating costs
  • Enhance security against fraudsters and social engineers
  • Elevate user experience with a passive and non-intrusive authentication process

Why it’s great
Illuma Access offers passive voice authentication for call centers. This reduces operating costs, enhances security against fraudsters, and elevates the user experience.

Presenters

Milind Borkar, Founder and CEO

Borkar has 10+ years of experience in R&D in digital signal processing and machine learning, 5+ years in marketing and business development, 50+ product launches, 18 patents, and 14 technical publications.
LinkedIn

Jeremy Whittington, Co-founder and CTO

Whittington has 20+ years of experience in architecting SaaS applications for Fortune 100 companies. He designed and deployed multiple enterprise systems used worldwide and founded two technology startup ventures.
LinkedIn