Voice biometrics solution allows banks—and consumers—to combat identity fraud.

 
VeCommerce's Voice Biometrics Wins Challenge
 
Acton, Mass., Feb. 25 — VeCommerce, a speech self-service company based in
Acton, MA, provided bankers at the recent ABA National Conference for
Community Bankers a unique lesson in how to combat identity fraud using voice biometrics.

Called the "VeCommerce Voice Biometric $1000 Challenge," VeCommerce offered a
$1000 prize if anyone at the conference could "fool" VeVerify, the VeCommerce
voice biometrics application. With appropriate multifactor authentication of a
registered legitimate user in every instance—and the appropriate rejection of every
fraudulent user—VeCommerce emerged the winner.

Each participant in the Challenge was assigned a unique account number and
encouraged to register a voice profile. The "account owner" used that profile
to transfer funds successfully from the account on a demonstration online

banking site and was then asked to have anyone else at the conference try to transfer funds
from that account, in essence, duplicating elements of identity fraud.

Paul Hallett, president of VeCommerce Inc., said, "We issued our Challenge to prove to bankers
that our voice biometrics application is extremely secure yet consumer-friendly.
We repeatedly heard  from Challenge participants that they were surprised how

simply, quickly, and accurately the authenication occurred."

Voice biometrics provides multifactor authentication of an individual's identity

through the properties of an individual's voice. A voice profile can be used to authenticate both
telephone and online transactions and eliminates the need for remembering identifiers such as
PINs, passwords, mother's maiden name, etc. or for having special equipment such as PIN
pads or fobs.  While things people know or have can either be forgotten, lost or
stolen, the voice remains consistently unique and clearly convenient to use.

 

VeCommerce offers an online demonstration of how VeVerify provides
multifactor authentication using voice biometrics at www.veverify.com.
Visitors to the site can use their own voices to authenticate the transfer of
funds on the mock banking site.

VeCommerce Inc. is the North American subsidiary of VeCommerce Ltd, the
Australia-based global leader in the provision of voice self-service
solutions.  With over 20 years in the communications and call processing
industries, VeCommerce delivers solutions to such diverse industries as
financial services and banking, wagering and gaming, ticketing and
transportation, and state and local governments.
SOURCE  VeCommerce Inc.

Karen Brace of VeCommerce Inc., +1-978-849-1318, or cell, +1-978-223-8610,
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

TrackBack URI for this entry