ValidSoft, a subsidiary of Elephant Talk Communications, recently revealed a partnership with Opus Research to produce a report titled, “Voice Biometrics Authentication Best Practices: Overcoming Obstacles to Adoption.”
Led by Dan Miller (News - Alert), senior analyst at Opus Research, the study evaluates previous voice biometric projects as well as the current industry landscape in order to identify a number of best practices to rolling out the technology and taking the industry forward.
The alarming rate of security risks associated with smartphones for payments and banking, along with heightened incidences of data theft and increasing awareness of fraud has highlighted the need for banks, businesses and governments to take another look at methods of authenticating end users.
Today, it is also no longer sufficient to merely secure hardware end points. Organizations want assurances that the individual at that end point is the person he or she claims to be. All these problems can be well solved by voice biometrics.
The general public is more familiar now with using their voice for mobile search, device control and dictation and today's study shows how, with the proper approach, voice authentication will soon follow.
The study notes that voice biometrics, by acting as a part of a multi-layer authentication process will help to reduce fraud and to confirm that the endpoint user is genuine.
In a release, Opus' Dan Miller said, "Voice biometrics strikes the right balance of strong authentication and usability. It is a powerful tool for preventing fraud and promoting empowerment through self-service, and will in the long run help financial institutions save money from fraudulent transactions and reduced administration costs. The security industry should adopt best practices when introducing voice biometrics to their customers.
Opus Research predicts that the global number of registered voiceprints will increase from 10 million today to over 25 million in 2015.
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Deepika Mala is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.
Edited by Juliana Kenny