April 16, 2013 -
VoiceVault has just announced the launch of an app in 40 countries by a top three global US financial institution, leveraging the company’s voice biometric technology.
Available now, the Android and iOS smartphone and tablet app uses voice biometrics as part of a multifactor authentication process for securing commercial banking ACH payments and wire transfers. According to the company, this solution provides security for multi-million dollar financial transactions, with billions of dollars in transfers already secured by active users in over 30 countries.
“This is the first voice biometric mobile application that has obtained global regulatory acceptance and this has been achieved while maintaining very stringent accuracy levels demanded by the financial services industry,” Julia Webb, VP of Sales and Marketing for VoiceVault said. “This is just one of the many international facing apps we are collaborating on that people will see in the next 12 months.”
Reported previously in BIometricUpdate.com, VoiceVault announced that its voice biometric identity verification solutions had been verified by Microsoft as having the ability to handle at least 1 billion authentications per year.
VoiceVault had an eventful 2012 and has announced major partnerships in the past few months. Identified as one of the most notable contract wins in 2012 by BiometricUpdate.com, VoiceVault announced that its voice biometric identity verification solution would also be used by a leading U.S. cable provider.
According to a recent Biometric Research Note, financial institutions have identified voice biometrics as one of the best means to secure its client accounts and financial information and the Biometrics Research Group argues that mobile devices are largely to thank for driving of the adoption of this technology.