National Bank of Australian has adopted a voice biometrics based authentication solution for its telephone banking customers. This is in an effort to reduce fraud.
After initial minor issues with getting users enrolled, NAB had much success in implementing this system and has received positive feedback from customers. They are considering expanding this system to mobile internet banking and online payments.
Besides voice there are other biometric systems that are quickly being adopted in banking. One company Global Rainmakers has developed an iris scanning system called HBOX. The plan is to have this technology deployed in mobile phones to allow remote authentication. This will go into a mobile phone that has a high enough resolution to complete the registration.
Banks traditionally have been very conservative in protecting customer’s data, and customers expect it. The idea is to have added security with biometrics and reduce customer exposure and fraud.
One concern with the infusion of biometrics in banking is the probable impact on the customer experience. In as much as customers want their information protected they do not want to be inconvenienced to achieve that protection in many cases.
Tim Cullen head of direct channels with NAB says of voice biometrics, “"There's probably not a lot of new technologies out there that create a safer experience that are easier to use or create a better customer experience”. If the experience of NAB’s customers will be the norm then we can expect that vast adoption of voice and other biometrics in banking for improved security.
No comments:
Post a Comment