IIT Madras incubated Uniphore has partnered with Nuance to offer voice biometrics to banks (currently running pilot projects), enabling banks to identify the accountholder within a fraction of a second as he/she speaks on the phone.
The system will identify/validate the accountholder and post validation, the application will process the entire transaction through the use of speech-based navigation. To perform a transaction, customers can simply call the system and authenticate their identity through Voice Biometrics. Then, using Speech Recognition, the system engages the user in an interactive conversation to process their requested transaction. The platform supports ISO 8583 for banking integrations, enables float and limit management, and runs on the a robust infrastructure in Tier-IV data center.
The Uniphore Mobile Voice Banking application is powered by Nuance Vocal Password, a service that verifies a speaker during an interaction with a voice application. Nuance application is language and accent independent and can be easily deployed with existing IVR and VoiceXML platform.
Voice biometrics typically work by recording one’s voice signature – i.e. a combination of frequency, pitch, tone and a private passphrase. Importantly, voice biometrics is also dependent on handsets being used (handsets have their own acoustic characteristics and speech transformations model) for recording signatures.
While it’s too early to say that deploying voice biometrics for banking transaction will be successful or not, countries like Philippines and Australia have embraced voice biometrics (over 1.5 million pensioners in Philippines use voice biometrics for accessing and transacting).
But given India’s varied accents, there surely is a bigger challenge to crack (even Google launched its voice based search in India and shut it down later).