Lloyds Banking Group launches voice ID for telephone banking
Lloyds Bank, Halifax and Bank of Scotland customers can use their voice for identification when using telephone banking services.
The technology is provided by Nuance, a technology, biometrics and conversational artificial intelligence (AI) specialist.
When registering for Voice ID, customers are asked to create a unique voiceprint by saying “my voice is my password”. Next time they call to access their account, their voice will be analysed by over 100 unique characteristics, including their accent, how fast they talk and the unique size and shape of their vocal chords to determine if the caller matches the stored voiceprint, Lloyds explains.
The banking group says “it has undertaken significant testing in advance of its launch of Voice ID, including a pilot of over 50,000 customers, to ensure its deployment of the technology would work for its diverse customer base, including vulnerable customers”.
“Today we use hundreds of passwords across our connected lives, and remembering each one can be difficult,” comments Martin Dodd, MD of telephone banking at Lloyds Banking Group.
“Voice ID makes telephone banking with us safer, quicker and easier than having to remember often cumbersome passwords, and we’re proud to have made this technology available to our customers.”
Brett Beranek, general manager of the security business for Nuance Enterprise, adds: “Voice biometrics far outpaces traditional authentication because it’s safe, convenient and more effective than pins and passwords for consumers.
“It is also inherently more difficult for a fraudster to replicate an individual’s voice than it is to get their knowledge-based password.”