https://www.activistpost.com/2024/05/bank-of-ireland-to-introduce-voice-biometrics-to-authentication-for-phone-interactions.html

By Bianca Gonzalez

Bank of #Ireland announced it will invest more than €34 million (roughly US$36 million) to upgrade its phone and CRM systems, including adding #voice #biometrics for authentication.

The use of voice biometrics will improve fraud protection and reduce waiting times for customers. This investment follows an announcement of €60 million (US$64 million) on ATMs and branch networks, and €50 million (US$54 million) on fraud protections.

“This is the largest single investment in enhanced systems and technology for our frontline colleagues in branches and contact centers that the Bank has ever made. We receive more than 11,000 calls on average each day and when customers call us they want speed, expertise and security,” says Susan Russell, CEO, Bank of Ireland Retail Ireland.

“This investment equips colleagues with the latest technology to provide better and faster resolution of calls, and colleagues will now have a ‘single view’ of the customer at the touch of a button providing them with instant access to all their information without having to talk to another part of the bank. This investment will make things faster and better for customers and for colleagues, it’s a win-win.”

Customers use biometrics in banking around the world
This follows a global trend of banks implementing biometrics to streamline services. As many as 75 percent of Brazilian banks use face biometrics to identify clients according to the first phase of a 2024 survey on banking technology by Deloitte Consultoria for the Brazilian Federation of Banks. Twenty-four banks participated, amounting to 81 percent of all banks in Brazil.

Indian commercial banks are considering using iris scans to verify transactions, particularly for senior citizens, as fingerprint biometrics may be less reliable.

In Australia, Waave is introducing the biometrically secured Waave Wallet and for its pay-by-bank product that was launched in early 2023. Customers can use their #fingerprint or #Face #ID for authentication before authorizing payments.See less

Bank of Ireland to introduce voice biometrics to authentication for phone interactions - Activist Post #MOTB