Fonetic builds voice biometrics into trading record keeping compliance tool
Fonetic has integrated voice biometrics capabilities into its Dodd-Frank Trading Record Keeping Compliance Solution to help banks verify a trader’s identity from a few seconds of conversation.
The solution takes unstructured data from voice, email and chat interactions to create a searchable database of communications related to a bank’s traders and trades. The addition of biometric voice analysis enables banks to verify a caller’s identity, track their interactions, and authenticate transactions based on their unique voice.
According to Fonetic, voice biometrics will help compliance officers improve risk and fraud detection and protection measures, while allowing for more accurate voice and data record keeping.
“Voice recordings play a critical role in helping banks maintain regulatory compliance and protect themselves against risk and fraud, but they become an infinitely more powerful tool when banks can use them to verify who is actually speaking with whom,” Juan Manuel Soto, CEO, Fonetic said. “Fonetic’s new biometric voice analysis capability helps banks ‘connect the dots’ between the speaker and their words, which improves communication transparency and increases protection for the organization.”
“For banks looking to implement a Dodd-Frank trading record keeping solution before the April 2014 deadline, Fonetic’s solution is still the only fully-functioning and proven platform available on the market, and we continue to drive industry innovation by being the first to integrate biometric voice analysis.”
According to the company, Fonetic’s voice biometrics technology is provided by AGNITIO.