We’ve spoken previously about the importance of keeping your customers’ critical information safe. However for larger transactions, security measures have not been particularly user friendly, until now.
Spending big? Just say the word
ANZ Bank has announced plans to enable its customers to authorise transactions in excess of $1,000 from their mobile phones, using their voice biometrics as authentication. Currently, transactions exceeding $1,000 can only be made using Internet banking on a computer, or by visiting a branch.
The institution’s managing director of customer experience and digital channels, Peter Dalton, said one of the key challenges for banking today was striking the right balance between convenience and ease of use, and security. Dalton described the voice biometrics technology as the perfect solution to “making it easy for customers to do what they want, in a safe and secure way”.
“Voice biometrics is the next step in making banking more convenient for our customers while also strengthening security.”
Meet compliance requirements, as well as customer expectations
While some other security measures, such as two-factor verification, can be perceived as an inconvenience to customers, voice biometrics delivers dramatically heightened security, with the added benefit of providing minimal disruptions to the customer service experience.
Dalton claimed the technology to be sufficiently advanced to distinguish between identical twins, and between a live and recorded voice.
“A person’s voice has five to ten times as many security points than other methods such as fingerprints, so we know this will improve security and be welcomed by our customers.”
“We also know that people are becoming more comfortable with using their voice to do basic commands on their devices, so we see this is a natural extension of current technology and we are expecting this to be a popular enhancement of our mobile apps,” he said.
A pilot will begin with ANZ staff and select customers in May using the bank’s Grow by ANZ mobile app. The service will then be rolled out progressively to ANZ goMoney and other digital services progressively.