What’s Trending: Voice Biometrics, Voice Pay & Fraud

LumenVox was recently featured in a thought leadership piece by Startup Geeks entitled, “Voice Payment Technologies: The Opportunities, Challenges and Future Trends.” It’s an interesting take by several thought leaders on the increasing popularity in voice pay.

More and more voice biometrics is coming to the forefront, not only because of its convenience but also because of its use as a robust security layer. In payment technologies, it is used instead of weak passwords or PINs, authentication methods which in this day and age have an increasingly high chance of being breached.

In general, the world is using voice to conduct searches or complete tasks. Just as consumers use speech recognition to conduct hands-free searches, voice biometrics enables a purchase from that same mobile device without any effort. Instead of tapping away on a frustrating keyboard, trying to input passwords people can’t remember, they use the sound of their own voice. That means more convenience, but with greater piece of mind, as voice biometrics is a robust security layer which is proven to reduce fraud.

Voice biometrics is a form of authentication which uses the unique behavioral and physical characteristics of a person’s voice to validate their identity. With LumenVox Voice Biometrics, we decouple any personal information from the voiceprint, so it’s not connected to anything sensitive or revealing for the consumer. It’s just a string of 1-s and 0s, which means it’s more secure because it’s anonymous on the backend.

The level of security used with voice biometrics can be tightened or loosened depending on the business use case. When it’s linked to a payment source, of course tightened is preferred. We leverage the brilliant minds behind our engineering team to work with businesses to find and implement that healthy balance (create a threshold), so consumers are getting the best of both worlds—security and convenience.

With the increase in fraud, social engineering, and large-scale attacks, it’s essential to be thinking proactively and crafting a strategy. If you’d like to learn more about how voice biometrics are being deployed across contact centers to combat fraud and seamlessly enhance the user experience, you’re invited to view the recently recorded webinar “It’s Good to Hear Your Voice Biometrics.”

Click here to learn more about LumenVox’ state-of-the-art Voice Biometrics.

Questions? Contact us today!