Unlike fingerprints and iris, voice biometric use a person’s voice to identify them. It’s a secure method of authentication that is growing in popularity. This form of authentication allows customers to move through the IVR without having to enter a password. It’s also used for online banking and other phone calls.
A voiceprint is a mathematical model of a person’s voice. It behaves like fingerprints and is stored in a database. It is matched to other voiceprints to confirm that the person is the same. A voice print is unique because of its size, form, and vocal organs. It cannot be duplicated. It is stored in a proprietary format of the voice biometric company. Voiceprint authentication is likely to grow in popularity due to its convenience and accuracy. It also eliminates passwords and repetitive security questions. A voiceprint can be compared to other voiceprints to determine a person’s age. It can also be used to determine gender. Voice biometric can be used to verify calls and help solve criminal cases.
According to Coherent Market Insights, the global voice biometrics market size was valued at USD 1,912.03 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 21.5% from 2022 to 2030.
The use of voice biometric is growing in banking, online commerce, and healthcare. It provides security and convenience and saves companies time and money. It also can operate in the background. Voice biometric is also used to identify animals and endangered species. These animals can be saved from predators. It’s important to remember that voice recognition is not always accurate. If an individual has an illness or illness-related voice pattern, voice recognition may be affected. It can also be difficult to authenticate in loud environments.
Having a voice biometric system is a good idea because it makes it harder for a criminal to steal the identity. Technology is also the best way to ensure privacy and security. However, it’s not something they can simply implement on their own. Various legal, technical, and regulatory requirements need to be met to make this happen. The technology is already being used by banking and financial institutions to provide more secure and reliable access to electronic devices. It’s also being rolled out to other industries. The popularity of this technology is increasing and we’re only a few years away from its mainstream adoption. The technology is also proving to be more robust and reliable over the years. This has prompted several banks to implement it on a large scale.
There are many technological feats, from a multimodal biometric verification system that incorporates fingerprints and voices to an artificial intelligence (AI) powered acoustic modeling system that reorganizes a spoken utterance into something resembling a coherent audio output. The AI-based system has been shown to perform better than human operators, and its accuracy can be improved with further testing.
Detecting fraudsters with voice biometric is important for ensuring the security of contact centers. This is particularly the case as call centers are increasingly under attack from professional fraudsters. These professional fraudsters are trained in social engineering and leverage stolen identities to make fraudulent transactions. These fraudsters pressure agents into security breaches. Their tactics include sim swaps and SIM jacking. They also use fraudulent phone numbers to intercept SMS and One Time PIN codes. These techniques are becoming more common.
