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  • HSBC To Bring Novel Voice And Fingerprint ID System For Its Customers

    Debasmita Banerjee

    Debasmita Banerjee

    @debasmita-9A90wv
    Updated: Oct 26, 2024
    Views: 1.3K
    The UK based multinational banking company, HSBC is all set to introduce a Voice ID and Touch ID recognition technology in Phone banking and Mobile banking sectors respectively. Owing to the advanced engineering, HSBC will grant relief from memorising long passwords to 15 billion customers in the UK.

    Though this step is not new as far as its application in the small scale is concerned, HSBC will be the first bank to apply it in consecutive periods. Francesca McDonagh, HSBC's UK head of retail banking and wealth management, confirmed this to be the biggest planned move to rollout voice biometric security technology in the UK.

    HSBC
    The security system is designed by Nuance Communication, an American multinational software technology corporation which used a proprietary algorithm to develop a system which uniquely identifies a voice depending upon 100 identifiers.

    Categorizing both behavioural features such as speed, cadence and pronunciation and physical features such as the shape of larynx, vocal tract and nasal passages, the system can easily recognize a ‘saved’ voice and enable them to log in to the system. The whole system uses a speaker recognition system, where the voice ID plays the key role.

    Warren Buckley, HSBC’s Global Head of Contact Centres, Retail Banking and Wealth Management stated that contemporary research clearly shows that the voice recognition biometric process saves both time and effort, thereby making the whole process a lot quicker.

    A recent survey conducted by YouGov shows that 55% of the 2,038 people lagged behind when it came to updating passwords which makes it easy for hackers to crack them. 78% of the voters opted for Voice ID to be the next generation “password”. With the incorporation of the newest research and innovation, the banking system would significantly improve in the next few years.


    Source:<a href="https://www.bbc.com/news/business-35609833" target="_blank" rel="nofollow noopener noreferrer">HSBC offers voice and fingerprint ID system to customers - BBC News</a>| #-Link-Snipped-#
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