Via PYMNTS, U.K. bank Barclays this week announced that it will implement voice recognition technology, making phone banking more secure and easier to use for its customers. From PYMNTS:
With banks looking for new ways to enable customers to provide secure transactions, they are increasingly turning to voice recognition…
According to Barclays, the technology can identify the caller based only on their voice, which removes the need for security questions and passwords. Barclays noted that each human’s voice is as unique as their fingerprints, compromised of more than 100 characteristics based on the physical configuration of the person speaking’s mouth and throat. Because of that, the voice automation technology will be able to recognize the person based on the first few words spoken.
Voice recognition technology, with a 99.99% success rate, is one of the best protections against fraud. In fact, voice biometrics are more reliable than fingerprints and are used by government intelligence agencies world-wide.
Enacomm Voice Authentication (EVA) is an application powered by voice biometric technology that enables authentication of customers from any phone, any time. The product leads to cost savings for organizations and an exceptional service experience for customers, as call centers and customer service reps do not have to repeat account verification or identification questions, saving 20 percent or more of their time.
Barclays is embracing the next-generation of financial fraud protection for banking systems. To learn how EVA can benefit your financial institution – big or small – click here and reach out to the Enacomm team at 1-877-860-0025 or firstname.lastname@example.org.