ValidSoft partnered with Opus Research and released a report titled “Voice Biometrics Authentication Best Practices: Overcoming Obstacles to Adoption” that predicts the technology will be deployed in payment authentication assuming the best practices it lays out are followed.
Chief among the reasons for an increase n the use of the modality is the increased use of smart phones for banking and other financial services.
The report details voice biometrics as a front-runner for unsecured smart phone transactions due to its high-level of usability as well as mobile phones already containing the hardware necessary for user’s to authenticate via voice.
Some best practices the report recommends include: ensure that customer usability and security levels are balanced, leverage existing resources, engage stakeholders early on, gain trust early by proving functionality of technology and prepare for future upgrades.
ValidSoft expect the implementation of voice biometrics for mobile phone-based transaction authorization would be part of a four-factor authentication. Users would be providing proof of who they are through their voice print; what they know with a password or PIN; what they have as each phone will have to be attached to a specific account; and where they are as mobile networks could ensure the user is in an expected geographic area when performing transactions.