Using Voice Recognition for Authentication

The need for greater security develops as technology evolves. In the banking sector especially, fraudulent activity in the contact centre has required new technologies, such as voice biometrics and fraud detection, to ensure greater levels of protection for customers. By the end of 2020, research suggests that some 1.9 billion bank customers will be using biometric identity verification to do a number of tasks, including withdrawing cash from ATMs and proving their identity when contacting the bank via telephone. Biometrics is an increasingly vital part of a bank’s security toolkit. Implementing a biometrics system can result in smarter identity verification and authentication, reducing financial fraud risk and ensuring that customers can conveniently prove their identity. The technology is now the bank’s first line of defence in the contact centre. Voice authentication offers a flexible and cost-effective form of biometric authentication as it does not require hardware integration that might be needed in the case of other modalities such as fingerprint matching or retinal scan. Enterprises can leverage voice recognition to enhance security and provide a choice to customers in terms of how they wish to authenticate themselves. Some of the use cases of voice-based authentication across industries include: Entertainment,Healthcare,Banking,Education,Independent Software Vendors (ISV)

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