June 29, 2015 -
Wells Fargo announced it will pilot a combination of voice and face recognition biometrics technologies to authenticate mobile iPhone app users of its Commercial Electronics Office (CEO) portal.
The new multimodal biometrics authorization feature will be available to all CEO Mobile iPhone app users in 2016.
The new technology will identify a combination of the customer’s face, voice, and mobile device, making it difficult for would-be criminals to spoof the registered banking customer, according to Wells Fargo.
“Biometric technology is emerging and accelerating change in financial services,” said Danny Peltz, executive vice president and head of treasury management at Wells Fargo. “We continue to explore and test new safeguards for our business customers.”
In addition to the CEO mobile authentication pilot, Wells Fargo is also testing an iris recognition technology that will be available as an authentication option to CEO Mobile iPhone app users in 2016.
Previously reported, the Fast IDentity Online Alliance announced that Wells Fargo Bank has become the latest financial institution to join the organization, which includes Bank of America, Visa International, Discover Financial Services, MasterCard, and PayPal, among others.