Voice biometricsGrowing banking market for voice biometrics

According to a recently released study, voice biometrics will be increasingly used to validate users in telephone-based financial transactions.

The report, released by ValidSoft in conjunction with Opus Research, forecaststhat voice biometrics will be used in payment authentication granted the best practices that are laid out in the report are followed.

In particular the growing use of smartphones, which already have the hardware necessary to authenticate a user’s voice, is the leading driver in the increasing adoption of vocal biometrics.

Best practices the report recommends include balancing customer usability and security, proving functionality of the technology, and using existing resources.

ValidSoft predicts that voice biometrics will be one part of a four-factor authentication process for mobile-phone based transactions. Other authentication methods would include a password or pin, registering the phone itself to a specific account, and a user’s geographic location to ensure that it is not being accessed outside their usual area.