Two major banks have announced in the past week that they are to drop passwords for telephone banking and instead use voice recognition technology in a bid to secure personal data and reduce the risk of fraud. This week, Barclays Bank announced its rollout of the authentication method, following First Direct's own news that it would be the first bank in the UK to do so.
Keiron Dalton, Director of Customer Strategy & Innovation at Aspect Software, a customer engagement centre technology specialist, praised the banks' commitment to improving the customer experience, and suggests that this is just the start for the changing face of banking security. He commented: "This is a great step forward towards the frictionless authentication that everyone wants when it comes to their personal banking. It is a good example of brands looking to actively improve the customer experience, while improving trust at the same time."
He said: "Passwords are dying off for all areas: hardly anyone remembers their password when they set their telephone or online banking up, and it's just another annoying step in the process that takes time and adds frustration. Voice recognition doesn't require the customer to answer any questions or remember a password, yet helps to instil confidence that their account is protected by a trusted banking brand. It is just the beginning in terms of ramping up protection from fraud and at the same time making the banking process quick, easy and pleasant.
"The popularity of mobile banking growing, with 10.5 million logins a...