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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
A look at the companies demoing at FinovateAsia Digital on June 22, 2021. 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
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).
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
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A look at the companies demoing at FinovateAsia Digital on June 22, 2021. 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
