Voice biometrics gain momentum in India’s financial sector

India is stepping into the future with voice biometrics, an authentication method that promises enhanced security and user convenience. Voice biometrics, which analyze unique voice patterns for identity verification, are gradually replacing traditional passwords in the country’s financial sector.

Ganesh Gopalan, co-founder and CEO of Gnani.ai, recently told DigiconAsia the use of voice biometrics is finding its way in several key industries. In the banking, financial services, and insurance (BFSI) sector, it enables customers to access accounts, complete transactions, and verify their identity without the need for passwords or security questions.

According to Gopalan, voice biometrics and natural language processing (NLP) are also transforming customer experiences in India.

Amazon Pay embraces voice biometrics

Amazon Pay India is at the forefront of this shift, working on advanced voice authentication technologies to ensure secure transactions. Voice authentication is already in use on Amazon Pay, allowing users to pay bills for services such as electricity, DTH, broadband, piped gas, and more.

According to Amazon Pay CEO Vikas Bansal, the company is investing heavily in biometric tools to enhance security while improving customer experience. Speaking with The Hindu Business Line, Bansal emphasized the company’s focus on making payments faster, easier, and safer by incorporating voice authentication. This could potentially simplify the login process for millions of users who currently rely on PINs and passwords.

Despite the momentum, Bansal said that voice-authentication in India is still in the early stage of development, and called for a standard voice-based protocol, similar to UPI – a PIN-based protocol, for the system to truly take off.

While Amazon Pay is still developing its voice authentication tools, India’s banking sector has already taken steps toward adopting the technology. Last year, Indian Bank became one of the first financial institutions in the country to integrate voice biometrics into its mobile banking platform. Customers of City Union Bank in India partnered with Kaizen Secure Voiz to add voice authentication to its all-in-one mobile app.

In 2022, Turant introduced a language-agnostic, text-independent voice biometric login system, specifically designed for the country’s diverse linguistic landscape. Planned use cases span financial transactions, call centers, as well as online education and e-commerce delivery.

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Amazon  |  banking  |  biometric authentication  |  biometrics  |  India  |  voice authentication  |  voice biometrics