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October 22, 2012

VoiceVault Biometric Voice Replay Detection Platform Optimized for Fraud Detection

By Shamila Janakiraman
TMCnet Contributor

VoiceVault’s voice biometric replay detection platform has been optimized to mitigate risks arising from fraudsters who are using voice recordings to attack voice biometric solutions.

“Fraudsters are becoming ever more ingenious in their attempts to circumvent our systems and this is one of the many ways we have responded to the threat,” said Trevor Thomas, VoiceVault’s Chief Scientist.

The features added by VoiceVault are sophisticated enough to enhance security and reduce fraudulent transactions made with financial services solutions. Especially in the case of applications like mobile payments, high security is imperative to prevent fraud using voice recordings.

During a performance analysis, VoiceVault voice biometric replay detection platform was reportedly able to detect 99.98 percent of recordings correctly among more than 10 million transactions. The capability of the voice biometric engine ensures optimum protection against fraudsters who use voice recordings of genuine customers.

“We work with many large financial institutions that demand very high levels of security in their speaker verification solutions,” added Thomas. “With these results, we are demonstrating that we are able to meet the exacting challenges they set to stop fraud and protect their customers in high security applications such as mobile banking.”

VoiceVault’s voice signature solution was picked recently by a top U.S. health insurance company to facilitate the execution of applications for health insurance over the phone. This solution provides a “speak on the dotted line” capability to phone and smartphone-based transactions.

Using an individual’s voice to perform the e-signature enables the implementation of legally binding signature under E-SIGN Section 106.

Biometric solutions based on voice are very critical to the financial and healthcare sectors. These solutions leverage an individual’s unique vocal characteristics for biometric identity verification over the phone, Web or via mobile and smart device applications. The technology is based on the fact that two voices are not exactly the same.

Voice commands are used in remote data and application access control, transaction authorization, identity verification, e-signature provision, and in out-of-band authentication solutions.

Edited by Braden Becker