ACTON, Mass., Feb. 25 /PRNewswire/ -- VeCommerce, a speech self-service company based in Acton, MA, provided bankers at the recent ABA National Conference for Community Bankers a unique lesson in how to combat identity fraud using voice biometrics.
Called the "VeCommerce Voice Biometric $1000 Challenge," VeCommerce offered a $1000 prize if anyone at the conference could "fool" VeVerify, the VeCommerce voice biometrics application. With appropriate multifactor authentication of a registered legitimate user in every instance -- and the appropriate rejection of every fraudulent user -- VeCommerce emerged the winner.
Each participant in the Challenge was assigned a unique account number and encouraged to register a voice profile. The "account owner" used that profile to transfer funds successfully from the account on a demonstration online banking site and was then asked to have anyone else at the conference try to transfer funds from that account, in essence duplicating elements of identity fraud.
Paul Hallett, president of VeCommerce Inc., said, "We issued our Challenge to prove to bankers that our voice biometrics application is extremely secure yet consumer-friendly. We repeatedly heard from the Challenge participants that they were surprised how simply, quickly, and accurately the authentication occurred."
Voice biometrics provides multifactor authentication of an individual's identity through the unique properties of an individual's voice. A voice profile can be used to authenticate both telephone and online transactions and eliminates the need for remembering identifiers such as PINs, passwords, mother's maiden name, etc. or for having special equipment such as PIN pads or fobs. While things people know or have can either be forgotten, lost or stolen, the voice remains consistently unique and clearly convenient to use.
VeCommerce offers an online demonstration of how VeVerify provides
multifactor authentication using voic
|SOURCE VeCommerce Inc.|
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