Voice Biometrics for Banks
Voice biometrics is also known as voice authentication is deployed in various applications across different industries. Voice interface is deployed in smartphones, smart devices and has become a normal part of our lives.
Voice biometrics in banking can be used to authenticate the identity of an individual by using an individual’s voice.
When a customer calls a bank for customer support, the customer support executive, asks for various details such as the account number, phone number, name, etc. to verify the identity of the customer, which is a time-consuming and tedious task. In most cases, it also annoys the customer as well. Instead, if voice biometrics is deployed, the interrogation of the customer can be eliminated, making the entire process simple.
The vocal characteristic of every individual is unique. Hence, the human voice can be used as a ‘fingerprint’ to uniquely identify an individual. Therefore, can be used to find out if the caller is an account holder or a fraudster.
Integrate Voice Biometric Solution in Banks
The voice biometrics of an individual will be taken as a part of the enrollment process and stored in the database. Whenever the account holder tries to reach out to the bank for any kind of customer service, the voice of the account holder will be matched with the sample of the voice available in the database and the identity of the individual will be verified. Therefore, it prevents fraud as well as enhances customer satisfaction.
Apart from this, voice biometrics are deployed while performing online transactions or updating account settings.
Most banks use SMS or Email verification codes to authenticate the user while performing online transactions or changing account settings. A verification code will be sent to the registered phone number or the email of the person. Once the code is verified the user can proceed with his transactions. Instead of the verification code, the identity of the individual can be verified using the voice of the account holder.
There is no need for any special device to perform voice biometrics operations in banks and all of this can be performed just by using a phone. Voice Biometrics is already being deployed in various banks such as HSBC and many other banks, to speed up the verification process at the call centers. Deployment of Voice Biometrics in the banking industry makes banking more secure and user-friendly.