News : ICICI Launches Voice ‘Password' Facility for Users
Mumbai, India, May 25, 2015 -- Private lender ICICI Bank said it has launched a service where customers can make transactions using just their voice, without using other means of authentication like a password.
The voice recognition service authenticates customers based on their speech patterns and allows them to execute banking transactions through the bank's call centre, the bank said in a statement issued here.
Customers, in general, use various means of authentication like entering card numbers, answering security questions and entering a personal identification number (PIN) to carry out a phone banking transaction.
"Their voice will now act as the password for banking transactions through the call centre," the statement said, adding that the service is secure.
"Our decision to invest in this new technology was primarily driven by the objective of enhancing the everyday banking experience of our customers," its managing director and chief executive Chanda Kochhar said.
She added that customers using smartphones find it difficult to enter the 16 digit card number and the 4 digit PIN with accuracy and the hands-free alternative has the potential to increase security and convenience.
The technology solution works on unique 'voice prints' which comprise over 100 characteristics, including voice modulation, speed, accent and pronunciation, which are impossible to imitate, the statement said.
The voice print is stored and matched whenever the customer calls from the registered mobile number, it said.
Posted by Veronica Silva Cusi, news correspondent
Today's Tip of the Day - Anticipate Volatility
More Editorial From ICICI Bank
About ICICI Bank:
Published: Wednesday, May 27, 2015
Genesys® powers 25 billion of the world’s best customer experiences each year. Our success comes from connecting employee and customer conversations on any channel, every day. Over 10,000 companies in...
Five9 is a provider of cloud software for the enterprise contact center market, bringing the power of the cloud to thousands of customers and facilitating approximately three billion customer interact...
Doxim is a provider of SaaS-based customer engagement solutions for credit unions, community banks and wealth management firms. Doxim’s Customer Engagement Platform helps financial institutions transf...
eGain customer engagement solutions power digital transformation for leading brands. Our top-rated cloud applications for social, mobile, web, and contact centers help clients deliver connected custom...