Voice prints most effective when combined with other authentication techniques

Posted on: October 30th, 2014 by Art Barger

Many financial institutions are contemplating the use of voice biometrics for fraud detection. Makes sense. Capture enough audio to identify callers in the future can provide another way call centers can mitigate their risk of fraud and improve customer relations. But while voice screening can help banks validate whether the person on the other line is who they say they are, relying solely on voiceprint technology for customer authentication has its shortcomings when used alone.

Operational setbacks can include everything from higher phone costs to declining customer service.

  • Increase length of calls: Like many other telephone authentication solutions, voice prints require time to gather enough audio that can be used for speaker recognition. This increases the length of customer calls, which can drive up the average cost per call.
  • Requires post-call authentication: Leveraging voiceprint technology means you are essentially answering all inbound phone calls. After the call is picked up, it takes considerable time before this method can validate whether the voice is a match, or not. Anytime you allow a criminal to get on line with a call center agent, you’re giving them the upper hand and are playing by their rules.
  • Doesn’t meet federal recommendations: While voiceprint technology meets the “Something they are” FFIEC requirement for multi-factor authentication, it’s only covers one category. Used alone, voice screening doesn’t fulfill the two-factor authentication paradigm that federal regulators recommend for identifying customers.

As Mark Lazar, Verint’s vice president for intelligence systems, recently stated, voice biometrics are shown to be most effective when combined with other fraud detection techniques.

“Within a few months we see a 90 percent reduction in the types of calls these fraudsters are making.”

This drives home my very point — while some emerging customer-identity technologies show a lot of promise, they can fall short when working alone. The truth is, there’s no single authentication tool that solves all risk and customer service issues. However, using complementary detection tools that work together to provide multi-levels of authentication provides an effective way for call centers to root out the bad calls and ensure a better experience for their good customers.

This is why we partnered with Nuance Communications — to give financial and telecommunication organizations the advantage of having two-factor authentication in a single solution. By combining the power of voice recognition with TRUSTID’s real-time telephone network forensics that identifies callers before the phone is answered (“pre-call”), we help companies automatically stop known bad calls without adding extra time or labor costs while instantly validating good callers to improve the overall customer experience.