Indian bank adds Kaizen voice biometrics to all-in-one mobile app
Customers of City Union Bank in India (CUB) can now log-in to their mobile banking application using voice biometrics from Kaizen Secure Voiz (KSV) after the bank upgraded its CUB all-in-one Mobile App.
The new service was launched recently with the privately owned bank’s Managing Director and Chief Executive Officer N. Kamakodi emphasizing that the move is part of the company’s pioneering digital innovation strategy to enhance user experience and curb fraud, recounts The Hindu Businessline.
Kaizen developed the service in collaboration from the Institute for Development and Research in Banking Technology (IDRBT).
The bank says the system is resistant to spoofs, referring to Kaizen’s passive liveness detection technology. Voice biometrics add another layer of protection for bank customers and could be used alongside user ID, PIN, and face or fingerprints biometrics.
CUB also recently launched a multilingual AI chatbot which officials say handles about 70 percent of all queries, among its recent innovations intended to improve customers’ banking experience. The institution has 727 branches across 16 states and three union territories in India.
According to Kamakodi, the new voice biometrics service is limited to logins to start, but it will eventually be expanded to user authentication and transaction verification.
MarketsandMarkets has forecast the global market for voice and speech recognition to leap from $9.4 billion last year to $28.1 billion in 2027, with India among the top growth markets.