ValidSoft applied its commercially available biometric Speaker Verification Platform, VALid-SVP, used for fraud prevention, to suit the particular challenge. ValidSoft's successful participation in these trials highlights its ability to provide what is now recognized as an industry-leading security tool that can pass the highest and most stringent research tests and challenges.
Pat Carroll , CEO of ValidSoft commented: "We are delighted with our achievement at the NIST Speaker Recognition challenge. We firmly believe that voice biometrics will play an integral part in payment fraud prevention as more of us use our mobile phones to make money transactions. Using a voice print to authenticate a customer and verify transactions provides a natural and efficient security layer. It is not just for mobile-based payments either, as we see evidence of increased fraud over telecommunication channels such as traditional phone banking."
Banks, looking to strengthen security procedures, are increasingly interested in voice biometrics. IT analysts from Javelin and Gartner are beginning to recommend a combination of authentication methods that includes voice biometrics. They expect at least one large financial institution to implement voice biometric caller authentication this year.
"We predict the use of voice biometrics for authentication and transaction verification purposes will accelerate within the banking industry, and other verticals. Voice biometrics will equally become increasingly appealing to insurance companies, government agencies, telcos and retailers, in fact any business where the phone is used as a means to contact their customers," added Carroll.
ValidSoft has invested considerable research resources into voice biometrics, as one of the la
|SOURCE ValidSoft; Elephant Talk Communications Corp.|
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