Voice Biometrics for Reduced Fraud
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The solution mitigates fraud and risk by implementing a voice biometrics technology that assures user authentication by using every individual's unique voice print.
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Voice Biometrics for Reduced Fraud
- 1. Leading-edge tech capabilities Prone to phishing, smishing and vishing Security tokens easily misplaced and go out of time sync Arduous questioning process Challenges of current authentication process Case study Remembering too many passwords Context: An organization was looking to eliminate fraud in consumer transaction, and mitigate the risk of unauthorized access to sensitive information. Recommended solution: It involves a FinTech platform with a voice biometrics technology, which assures user authentication by using every individual‘s unique voiceprint. • This technology reduces the costs and risks associated with authentication that requires password or sharing of sensitive data. • This voice biometrics solution offers an innovative alternative for remote user authentication irrespective of access device and language. Voice biometrics for reduced fraud Fully integrated voice authentication systems High performance server technology KYC unique authentication Seamless registrationAdvanced security Solution benefits Average handling time with agent reduced from 20 to 40 seconds Up to 99.995% success rate with automated authentication Improved KYC management Up to 10 times reduction in fraud in the contact center 1 3 2 4 Voice authentication features Fraudster enrolment Automated calibration Background model Nasal cavity and lung capacity Panic detection Twenty-for machine parameters Liveliness detection Passive authentication Pitch, tonality and frequency Client impact: • Removed the need for an access device • Reduced call time and cost • Improved fraud protection • Enhanced consumer experience • Maintained brand equity Pass phrase Customer or employee Claimed ID plus audio Verification results Secure access to contact center or helpdesk Secured interaction Secure information and automated transaction Interactive voice response (IVR) or web or voice platform Varun Mittal Global Emerging Markets FinTech lead varun.mittal@sg.ey.com Contact us FinTech Hub www.ey.com/sg/FinTechHub