Indian private sector bank ICICI Bank has launched voice recognition service to authenticate banking transactions for customers.
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The voice recognition service will authenticate customers based on their speech patterns, which are unique to an individual, and will allow them to execute banking transactions through the bank’s call centre.
The new technology will work on voice prints comprising more than 100 characteristics including voice modulation, speed, accent, pronunciation, to enhance security.
The service will enable customers to bank without the requirement to fetch their card numbers, PIN and answer security questions to validate every transaction.
ICICI Bank managing director and CEO Chanda Kochhar said: "Our decision to invest in this new technology was primarily driven by the objective of enhancing the everyday banking experience of our customers.
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By GlobalData"We have noticed that the customers, especially those who use smart phones, find it difficult to enter the 16 digit card number and the four-digit PIN with accuracy and at a reasonable speed.
"We wanted to offer them a secure and hands-free alternative to the traditional on-screen commands on smart phones. The voice recognition service has the potential to increase security and convenience."
