Biometrics more popular than passwords

Powered by SC Magazine
 

The majority of consumers are concerned about the security and use of Pins, passwords and 'secret' data used by bank call centres to verify identity.

A survey carried out by voice biometrics firm SpeechStorm found that 61 per cent of respondents expressed concerns about these forms of verification.

Some 42 per cent of people using telephone banking do not believe that their bank does enough to prevent fraud or identity theft.

Just over 40 per cent of respondents believe that their personal information is more secure when using an automated system than speaking to a live agent (36 per cent) when handling Pins and passwords.

However, 86 per cent would be happier to use either voice biometrics (28 per cent) or a blend of voice biometrics and Pin/password (58 per cent) measures for telephone banking identification and verification.

Professor Michael McTear, head of voice authentication research at the University of Ulster, said: "Many bank customers are concerned with the threat of identity fraud and the associated risks for their personal finances.

"It is imperative that banks should be encouraged to provide an effective and easy-to-use method for additional security. Voice authentication provides such a method.

"The customer is not required to enter complicated sequences of numbers and letters but simply answers a few questions in their normal voice.

"Voice biometrics is an effective and reliable technology for authenticating valid customers and, more importantly, for rejecting 'imposters' whose voice does not match the customer's voiceprint."

Some 80 per cent of respondents said that security is an important element of banking transactions completed over the phone, and 74 per cent stated that they have been more careful with their personal information in the past 12 months.

SpeechStorm and partner Genesys believe that this highlights the need for banks to address security concerns.

Copyright ©v3.co.uk


 
 
 
Top Stories
The True Cost of BYOD - 2014 survey
Twelve months on from our first study, is BYOD a better proposition?
 
Photos: Unboxing the Magnus supercomputer
Pawsey's biggest beast slots into place.
 
ANZ looks to life beyond the transaction
If digital disruptors think an online payments startup could rock the big four, they’ve missed the point of why people use banks, says Patrick Maes.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
What is delaying adoption of public cloud in your organisation?







   |   View results
Lock-in concerns
  29%
 
Application integration concerns
  3%
 
Security and compliance concerns
  28%
 
Unreliable network infrastructure
  9%
 
Data sovereignty concerns
  21%
 
Lack of stakeholder support
  3%
 
Protecting on-premise IT jobs
  4%
 
Difficulty transitioning CapEx budget into OpEx
  3%
TOTAL VOTES: 1094

Vote