The collaboration aims to introduce advanced solutions that will enable more extensive and precise risk assessment capabilities.

This strategic partnership is designed to empower PwC’s diverse clientele across various sectors, including insurance, banking, and the public sector. The objective is to enhance the overall customer experience while efficiently managing and mitigating fraud risks.

Clearspeed’s pioneering voice-based technology harnesses the power of artificial intelligence (AI) to deliver precise and unbiased risk assessments. By presenting a set of straightforward questions, Clearspeed’s AI-driven platform can discern vocal attributes associated with risk in real-time responses.

Through this innovative collaboration, PwC seeks to aid organisations dealing with a high volume of customer interactions, with the ultimate goal of minimising fraud risks without necessitating additional human intervention.

Fraud has emerged as a pressing concern, constituting more than 40% of reported crimes in the UK. In response to the UK Government’s recent launch of the Fraud Strategy, which places renewed emphasis on combating scams and prosecuting fraudsters, PwC remains committed to employing cutting-edge methods to effectively combat fraud while upholding customer service standards.

Harry Holdstock, Partner at PwC UK, expressed his enthusiasm for the partnership: “I’m really excited we will be working with Clearspeed as we seek to help our clients enhance the experience of their customers and up the ante in the fight against fraud.”

Clearspeed CEO Alex Martin commented, saying: “With the rising cost of living and the digital transformation of the economy, fraud rates have increased and approaches have evolved, presenting a difficult challenge to traditional technologies for fraud detection.”

He added: “By leveraging advanced technologies such as artificial intelligence, machine learning, and next-gen voice analytics, we will revolutionize risk assessment together, empowering businesses to stay ahead of emerging threats and safeguard their operations and their customers, building trust faster in an increasingly complex landscape.”