India’s ICICI Bank launches voice biometrics to combat fraud

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India’s largest private lender, ICICI Bank, has launched a voice biometrics service for its contact centers which aims to combat fraud and improve customer convenience. The voice recognition service authenticates customers based on their speech patterns and allows them to execute various transactions.

The bank was preparing a deployment with a solution developed by Nuance. “Their voice will now act as the password for banking transactions through the call centre,” the bank said in a statement on Monday. Over 33 million savings bank and credit card customers will be able to use the service.

Chanda Kochhar, MD & CEO, ICICI Bank said, “ICICI Bank has always been committed to bringing in new technology and innovation to its customers and the introduction of voice recognition as a means of authentication is an extension of this commitment. Our decision to invest in this new technology was primarily driven by the objective of enhancing the everyday banking experience of our customers.

We have noticed that the customers, especially those who use smart phones, find it difficult to enter the 16 digit card number and the 4 digit PIN with accuracy and at a reasonable speed. We wanted to offer them a secure and hands-free alternative to the traditional on-screen commands on smart phones. The voice recognition service has the potential to increase security and convenience.”

The voice prints that will be used comprise more than 100 characteristics including voice modulation, speed, accent and pronunciation. The Bank stores the customer’s unique voice print against his account and matches it whenever he calls from his registered mobile number, offering a seamless experience to the customer.

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