ICICI bank is the first in the country to introduce voice recognition for biometric authentication of its customers. This will erase the hassles of the customer providing authentication by entering the card number and keying the secret code. The system will immediately recognize the voice of the customer as soon as he introduces himself.
The same system is also capable to analyze the voice of the customer to find if he/she was irritated or in a hurry while attending the call. The new authentication will fasten the process of money transactions. Nuance Communications, arguably the most advanced speech recognition company, who worked behind Apple’s voice recognition software Siri is the brain behind ICICI’s cutting-edge technology.
Installation of voice recognition system is comparatively easier than the other biometric systems like iris as it involves lesser equipment for functioning. There is no requirement of scanners or data connectivity. For safety concerns, the bank has employed the voice authentication only over the registered mobile number of the customer. Moreover, it is employed as the second authentication process after the mobile number.
Sabharwal also hints the potential of using the same technology for online transactions too. The servers could call up the customer and take his voice verification instead of the one-time password system employed currently across.