Lloyds launches voice ID for phone banking
Written by Peter Walker
Lloyds Bank, Halifax and Bank of Scotland customers can now choose to use their voice to verify themselves when accessing their banking over the phone, following the launch of Voice ID by Lloyds Banking Group.
Once a customer registers for the service, they will be asked for their card or account number and verified, then they will be asked to say ‘my voice is my password’ to create a unique voiceprint.
Next time they call to access their account, their voice will be analysed by over 100 unique characteristics, including their accent, how fast they talk and the unique size and shape of their vocal chords, to determine if the caller matches the stored voiceprint. A successful match grants account access.
Martin Dodd, managing director of telephone banking at Lloyds, said: “Voice ID makes telephone banking with us safer, quicker and easier than having to remember often cumbersome passwords, and we’re proud to have made this technology available to our customers.”
Lloyds has undertaken significant testing in advance of the launch, including a pilot of over 50,000 customers, to ensure its deployment of the technology will work for its diverse customer base, including vulnerable customers.
Working with biometrics and conversational artificial intelligence provider Nuance, registered customers of the group’s core banking brands will now get a more seamless verification process when they call their bank.
Brett Beranek, general manager of the security business for Nuance Enterprise, added: “Voice biometrics far outpaces traditional authentication because it’s safe, convenient and more effective than pins and passwords for consumers. It is also inherently more difficult for a fraudster to replicate an individual’s voice than it is to get their knowledge-based password.”