India’s largest private banking company, ICICI Bank has recently launched a new Voice-password facility for its customers who use its phone banking service. This facility allows the customer to complete banking- related transactions over the phone using their voice for authentication.
The bank released a statement stating that “the voice recognition service authenticates customers based on their speech patterns and allows them to execute banking transactions through the bank’s call centre. Their voice will now act as the password for banking transactions via the call centre”.The technology behind this voice-based service works on unique ‘voice prints’ made up of various voice characteristics such as speech modulation, voice speed, accent and word pronunciation. The customer-specific ‘voice print’ is saved, stored and matched whenever that customer calls the phone-banking line from his or her registered mobile number.
Generally, a customer has to use only non-voice based authentication options such as typing in their card details or entering the secret PIN (Personal Identification Number) to carry out a banking transaction via their phone. Sometimes, a customer has to answer security questions asked by call center executive for account verification that further increases transaction-execution time.
The bank claims that this new service is secure and is open to all ICICI bank customers having savings bank and credit card accounts, across the country. As per the bank statement, the ICICI bank has launched this secure innovative service for its phone-banking customers to save them from the hassle of entering lengthy bank account and credit card numbers using their phone keypad