In many ways, voice biometrics promised to be a sort of magic bullet for fraud risk among contact centres.
Just as physical fingerprints can be used to verify identity before allowing access into a physical space, voice biometrics can act as a protective safeguard during telephonic conversations. What’s more, nearly no human intervention is required for auto-identity verification through voice biometrics. However, there are a number of considerations to keep in mind before implementing voice biometrics technology as a default, 100% reliable security mechanism at your content centre – let us explore these pros and cons in more detail.
3 Undeniable Benefits of Voice Biometrics
The voice biometrics market is growing at an impressive pace, expected to reach $4.9 billion by 2027, compared to less than $1 billion in 2019. This growth is propelled by the following benefits:
- A person’s voiceprint is extremely hard to spoof - In an identity theft case, a fraudster can get hold of a customer’s date of birth, address, and unique information like their mother’s maiden name or the name of their first pet. However, every individual has a distinct voiceprint, which is far harder to obtain or mimic
- Its convenience helps the quality of CX - Voice-biometrics-based authentication is more convenient for the customer than physically entering a password, remembering answers to secret questions, etc. There is no dependence on memory or recall, as your voice itself acts as the identifier
- It is an excellent candidate for automation - Voice biometrics can be used to automatically obtain a person’s approval after verifying their identity. For instance, a live agent doesn’t need to ask a customer for consent before recording a call – an automated IVR can request, while voice biometrics verifies that it was indeed the customer who provided their consent
As a result, there is a lot of interest and investment around voice biometrics, with nearly every technology company opening a patent in this field.