Australia and New Zealand Banking Group (ANZ) has announced plans to introduce voice biometrics to boost security of high value transactions on its mobile banking platform.
The technology will now be used to authenticate customer transactions higher than $1000 through ANZ’s mobile apps, which until now required customers to use internet banking or visit a branch.
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The bank intends to pilot the voiceprint authentication technology in May with staff and select customers on its Grow by ANZ mobile app. Plans are on to eventually add the technology to the bank’s GoMoney banking app and other digital services.
ANZ has joined forces with voiceprint and biometrics company Nuance to integrate the technology into its mobile apps.
ANZ managing director, customer experience and digital channels, Peter Dalton said: “Voice biometrics is the next step in making banking more convenient for our customers while also strengthening security.
“A person’s voice has five to 10 times as many security points than other methods such as fingerprints so we know this will improve security and be welcomed by our customers. The technology is now so advanced that it can tell the difference between identical twins or even a voice recording.”
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By GlobalData
