"I know I am who I say I am so why don't you?" -- Every customer who ever failed your authentication process Even if you've only been paying scant attention to what's going on in the contact centre industry over the last few months, you will have noticed an increasing tempo of stories from a whole string of the world's leading organisations implementing voice biometrics for their customers in the IVR, when speaking to contact centre colleagues, and even in their mobile channels. In the U.K. alone, half of the country's largest banks have already announced their intentions to deploy the technology and new market entrants even see it as a competitive advantage. In nearly every region where I spend time, there are dozens more organisations fully committed to implementing voice biometrics who have yet to go public. Through using the unique nature of every customer's voice that is inherent in every voice channel interaction, voice authentication is gaining steam. It's different this time I know that many of you will have been here before with high hopes, missed expectations and, in some cases, hundreds of man hours spent on proofs of concepts with oversold silver-bullet solutions to all of your voice channel authentication challenges.
Citibank (China) has introduced Voice Biometrics authentication in a bid to accelerate verification processes when customers reach out to the banks service hotline officer. The deployment of this technology, which uses voice as password, is expected to improve customer experience by eliminating the need to remember complicated passwords or answer several personal questions to confirm their identity. The firm claimed that it is the first bank to adopt broadly free-speech voiceprint authentication technology in China. Citi China country business manager of global consumer banking Darren Buckley said: "Citi has a history of exploring client centred innovation and technologies that enhance convenience and flexibility for our customers, so we are very pleased to launch Voice Biometric authentication as our latest innovation to enhance the banking experience of our client's in China, one of our most important global consumer banking growth markets." This Voice Biometrics authentication system has already been introduced in multiple countries in the Asia Pacific region with a customer base of around 4.48 million people.
Intelligent Assistants (IAs) are redefining digital commerce and customer care as enterprises introduce new services to provide an engaging customer experience using natural language understanding, machine learning, and artificial intelligence. Leveraging existing IVR, chat and contact center resources Balancing virtual assistants with human interactions Promoting trust, security and privacy through intelligent assistants and bots Optichannel authentication via voice and multi-modal biometrics Moving beyond "transactional" to "assistive" services
Are biometric methods secure for two-factor authentication in the enterprise? Much has been made about the fact that biometric authentication is not always infallible, but is it "good enough" to take some of the pressure off of the notoriously fallible password? According to a new study from Goode Intelligence, the answer is "yes," and in the just-released report on the study the company lays out the business case for biometrics. As an example, London-based Goode Intelligence's survey found that 67% of respondents use biometrics to verify a customer's identity during digital customer on-boarding. The EU's General Data Protection Regulation has set stricter security requirements on the data companies collect about customers, and Goode's research shows that it costs an average of $4,000 to go through that on-boarding process for each new customer.
As digital transformation continues across all industries, the need for an increasing number of passwords is becoming problematic. Financial institutions need to investigate acceptable alternatives that balance security and simplicity. For financial institutions, one of the primary goals of digitization is to improve the simplicity of banking. In an effort to improve the user experience, one of the stumbling blocks has been the password authentication process needed to access mobile banking. Combining the need to improve the security of accessing accounts due to increased data breaches, with a desire for greater ease of use, is a difficult balancing act.