Nuance Communications, a provider of speech and imaging solutions, is looking at the banking sector for its caller authentication solutions. The new solutions which aim at containing identity fraud in telephone-based transactions, use voice biometrics technology.
According to the company, though most high-risk transactions for banks are being handled by agents, most agent authentication is vulnerable since the single factor, IVR authentication is weak. “With voice biometrics, enterprises can now offer their customers better security without sacrificing caller convenience,” it said.
“Enterprises are looking for leadership in the design and implementation of caller authentication solutions, including voice biometrics, for their call centres. Consumers around the world feel that voice verification is a secure form of identity verification for phone access to customer service data,” said Charles Buffum, VP - Caller Authentication Solutions, Nuance, at a workshop in Bangalore.
Nuance’s caller authentication solutions offer authentication procedures via solutions, which the company claims, can capture and store customer-specific biometric data from their speech patterns. This negates the need for the customer to be physically present to authenticate his identity.
The technology can also be used to secure customer authentication for other business purposes like financial transactions and limiting access to important personal data.