Your voice can be your PIN or password

By Vanessa Tripodi

The last thing Australian credit card users want is another PIN or password to remember. Not only do more codes and authentications add to the plethora of information already stored in your overworked head, but also you're more likely to use the same passwords and PINs for everything, just so you can remember them.

This is, of course, a huge security issue as it increases the risk of credit card fraud and identity theft. Therefore, in an Australian banking first, the National Australia Bank has implemented a voice recognition system to improve the security and privacy of users' telephone banking and customer service experiences. The previous NAB security systems have involved an SMS being sent to users, providing them with a one-off password for their online banking. The new voice recognition system allows for just one phone call to authenticate the users' identity.

Telstra and Salmat VeCommerce have designed and installed a unique voice biometric solution for NAB called VeSecure. NAB customers simply call once to register their voice print. After that, they are only required to recite their account number to verify their identity. Where customer verification once took two to three minutes each time they called the customer service or telephone banking lines, the voice print system has cut that time to 20 to 30 seconds.

The VeSecure solution works in conjunction with the existing VeConnect solution that NAB launched earlier in 2009 to allow users to navigate telephone banking menus by speech commands. This has allowed the bank to launch a single phone number -- 136 NAB -- to attend to all customer enquiries.

NAB personal banking's program manager (direct channels speech program) Sam Jackel has said that the bank is always looking for ways to improve service, even as it maintains tight security.

Rocky Scopelliti, Telstra enterprise and government general manager for financial services, said,"Raising the bar on the customer service experience is the key to driving business growth."

With better safeguards available on credit cards and bank accounts, Australian financial institutions will be seen to be more competitive on implementing better customer service processes and user-friendly telephone and online banking systems, from which all Australian credit users and account holders will benefit.

Article by Vanessa Tripodi

Published: July 14, 2009