How is voice biometric catering to the protection of customer data from frauds?

Almost every company collects huge amounts of data, therefore every company must be meticulous about data protection and authentication. Advancing technology and digital transformation are constantly and positively changing the world providing new opportunities for all to play with data. Along with this, it is with advancing technology that illegal activities are also rising which cannot be ignored. In such a case how can you protect your data from fraud? If a company deals with huge amounts of customer data, how can the company protect its customer from fraud and serve seamlessly providing a better customer experience? The solution to this is voice biometric authentication. It is the technology that uses a person's voice to identify, detect and validate their identity. Executing such a system is very effective as well as fast at processing voice patterns.

The traditional verification methods that use pin codes, passwords, and process-based authentication are now replaced by voice. Voice identification provides a level of security that PIN codes and passwords can't. Voice identity verification is captivating almost all sectors especially the financial sectors because of the increase in cases of financial fraud.

Let's have a look into how voice biometrics are catering to the protection of customer data from frauds.

Voiceprint, A Unique Step of Authentication

Voice biometric is similar to fingerprint and face recognition where an individual creates a lock that is unique to that particular individual. In the case of voice metric similarly, an individual creates a voiceprint like providing a sample of his or her voice. The difference in voice biometrics is that no one can steal a person's voice because the voiceprint is unique.

In the case of financial institutions, customers create their unique voiceprints. Now, when a customer is asked to say his or her account number or any digit displayed on the screen, the voice biometrics gets activated. When the customer talks with the call center executive, his voice gets sampled and the executive gets the confirmation whether he is the actual one holding the account or not.

High-Security Storage for Voice Biometric

Voice biometrics can be stored by a company that is utilizing it with a trusted service provider. Voiceprints cannot be stored in any unknown place where the security is limited, it should be locked up with high security behind the clients' firewall.

Oddity Detection of Voiceprints

There are possibilities that this system can be exploited in an unfair method. For example, someone can record the voice of the user and can replay that audio, also he can take the help of a computer to produce a synthetic version of that user's voice which is known as deep fakes. How can such things be prevented? There are ways for everything, aren't there? Some kind of live element can be applied, like any unfamiliar or unspecified element of the phrase which the user is continuously speaking. Technologies that detect abnormalities in speech can also be implemented. Such technology looks into things like whether a voiceprint is recorded and replayed or synthetically generated by machines etc. so there are measures that can detect those and thus can prevent and protect the customers.

Adoption of Voice Identification Biometrics

It is difficult to get people to enroll their voices. But there are ways that make it easy. Like, when a customer contacts a call center frequently it is the best time to get his enrollment, if a customer uses any application invitation can be sent to them when they are using that app. It is important to understand customer needs and to get them enrolled for better security and to serve them seamlessly. Of Course, customers will benefit from it leading to better customer experience as well as fraud prevention.

There is no doubt that voice biometrics is the best solution for fraud prevention.

The benefits and returns will be great for companies that can invest more and have patience. Depending on how a solution is used, voice biometrics can help in increasing customer experience and satisfaction, intensifying security and lessening the risk of fraud, and enhancing staff productivity.