Earlier this month, the National Australia Bank launched a range of digital features aimed at improving customer experience. Voice recognition biometrics was one of the key features announced allowing its customers to record their unique voiceprint authenticating with Nuance’s biometrics and security solution.
Nuance Communications, the solution provider for NAB said its biometrics solution powers NAB’s Voice recognition biometrics service that authenticates NAB customers’ voices in seconds, helping to prevent fraudsters from accessing bank accounts using a customer’s credentials or information.
NAB’s customers choosing this authentication process will record their unique voiceprint simply by talking to a NAB banker on the phone. While the customer is speaking, the underlying technology will identify more than a thousand behavioural and physical vocal traits such as pronunciation, tone and pattern, and capture the distinct characteristics in their voice to create a unique voiceprint.
The statement revealed the encrypted voiceprint will be securely stored and used to easily identify a customer the next time that individual calls in.
NAB joins the growing list of leading enterprises successfully leveraging Nuance’s biometric solutions including the Australian Taxation Office (ATO), HSBC, RBS, TalkTalk, Vodafone Turkey and Deutsche Telekom.
First Australian Major Bank
“As the first major Australian bank to offer VoiceID in its contact centre, this technology is helping us improve the experience our customers have when they call by spending less time on the authentication process and more time helping them with their needs,” said Paula Constant, Executive General Manager Consumer Direct at NAB.
We are pleased to partner with Nuance to provide customers with simple, fast and secure ways to go about their banking. We now have around 120,000 customers enrolled since VoiceID went live in November 2019 and we are targeting 250,000 customer enrollments by the end of 2020.
Paula Constant, Executive General Manager Consumer Direct at NAB
With so many different characteristics, the human voice provides one of the safest ways to verify callers’ identities, Nuance said in a statement.
The Nuance Gatekeeper analyzes more than 1,000 characteristics of a voice and also uses its intelligent detectors to cross-check an individual’s device, geolocation and pattern of speech while certifying it is a real person and not a recording or synthetic creation.
Voice recognition biometrics removes the need for knowledge-based passwords and security questions that hackers can easily steal or guess, bringing NAB customers higher security standards and convenience by focusing on who they are versus what they know.
“We are proud to see NAB leveraging Nuance Gatekeeper to bring their customers more convenience while securing financial and personal information in today’s digital society.”
Brett Beranek, GM Security, Nuance
Earlier this month, NAB launched a range of support channels to help improve customer experience. With the big banks’ reputation badly affected by the Royal Commission findings and the Fintech and Big Tech chipping away their businesses steadily, it’s imperative for established players to elevate their game.
Offering improved customer experience and better money management features are a step in that direction. The latest features and increased adoption by customers is testimony to the growing trend and new normal for established banks.
Nuance said its technology is being implemented by more than half of the world’s largest financial institutions today, and 8 of the 10 largest global telecommunications companies. Over 500 million consumers make more than 8 billion successful authentications yearly and Nuance biometrics has already prevented over $2 billion worth of customers’ money from getting into the wrong hands.
Also Read:
NAB launches new digital support channels: Switches on Whatsapp, iMessage
National Australia Bank’s Digital Transformation Highlights: Deep Dive of 1H20 Results
