What is voice biometrics?
Voice biometrics is one of the technology security tools that use distinct and unique physiological and behavioral characteristics of a particular person for their effective and safe identification.
Just as there is no iris identical to another, our voice is also unique. There aren't two people who have the same voices, even if the differences are imperceptible to the human ear or have the same genetic characteristics, as in the cases of identical twins.
In other words, voice biometrics is a technological resource that allows you to determine the identity of a person through the distinctive features of his/her voice, either physiological, such as the size of the vocal cords, or behavioral, such as accent.
Key features and advantages
Voice biometrics has been increasingly used in a wide spectrum of contexts around the world, especially in financial areas, due to the high levels of security required in this sector of activity, in telecommunications and in general in customer service as we will see later, precisely because it offers certain features and advantages:
Customer identification and authentication in seconds:
Just like data, nowadays, time is one of the most valuable commodities today.
One of the most common customer issues, in general, is the lack of agility to access the desired services, mainly due to security measures that require several identification steps.
Another obstacle to time optimization is the need to enter passwords that usually have to be large and include uppercase, and lowercase letters as well as special characters, not even mentioning when you forget the password. In this case, it is necessary to comply with a security protocol that includes countless steps and therefore requires time.
Voice biometrics allows you to identify and authenticate a person at least 4 times faster than other traditional confirmation features, the most advanced voice biometrics solutions only need 3 to 5 seconds of dialogue to be able to uniquely identify a useful one.
Lower cost, better performance.
Reducing operating costs is one of the great challenges of companies seeking service optimization and excellence.
With the implementation of voice biometrics, it is possible to achieve the desired cost reduction through:
Identification and customer authentication: By identifying and authenticating a customer by voice biometrics, you can increase the speed and volume of service by avoiding the long process of confirming personal data.
Agility in service:
Autonomous and agile service means satisfied customers and increased sales.
With the current technology of voice biometrics, it is already possible to validate the client in up to 3 seconds and present the results, in real-time.
Thus, in addition to increasing tickets solution per employee, there is still a benefit related to the improvement in the user experience that, with strategic planning and the mere organic dissemination of word of mouth, can be converted into prospecting for new customers.
A gain in scale:
More is less when talking about increasing profits.
The most important advantage is the fact that the increase in production, marketing or services is not accompanied by a proportional increase in cost. That is, the profit margin is increased.
Once voice biometrics is implemented, the greater the use of this feature, the lower the cost per request. With this, it is possible to adjust the pricing of expenses with voice biometrics according to the size of the contracting company.
Having more data means providing more security.
The database is a key piece to ensuring the efficiency of voice biometrics.
Every time a new vocal identity is added, the ability to cross-reference information in the database is enhanced.
Therefore, it is possible to customize the technology to the specific demands of each company, in addition to allowing the identification and mapping of suspicious behaviors.
How voice biometrics prevents fraud in the financial sector?
With technological developments, financial transactions are increasingly being executed digitally. There is a significant increase in the risk of fraudulent transactions.
Once the registration is made through the appropriate communication channels of a financial institution, the system of voice biometrics, already in possession of voice records, checks it on all future connections. If any anomaly is noticed, the system issues an alert to the team enabling blocking in real-time.
In Brazil, for example, a renowned financial institution managed, between the years 2020 and 2021, to prevent 2,000 frauds that would correspond to a loss of around R$ 2.5 million, after the implementation of voice biometrics.
The fight against fraud
Since 2020, there has been a 282% increase in fraudulent accounts in the financial sector, in addition to the 80% increase in fraud in general during the pandemic. With voice biometrics technology the system can issue a real-time alert to your team providing prevention and cybersecurity thus avoiding losses in fraud, losses, chargebacks and civil actions.
Omilia User Cases
Voice biometrics is already a reality and has been widely used by different institutions in different countries. For the Royal Bank of Canada, Omilia developed and implanted a conversational virtual assistance app, a voicebot for call center operations.
The app recognizes over 130 categories and subcategories with over 15 end-to-end conversations voicebot all self-services. Today the system operates with a 96% success rate in concept identification (CISR) and na 86% task completion rate (TCR). Omilia has been in full commercial operation since February 2017.
With so many advantages offered by voice biometrics, it is easy to notice the benefits related to increased productivity, savings and, accordingly, profits of the enterprise.
However, the most valuable result is security, whether in internal procedures, sensitive data or in the fight against fraud.
On the other hand, as voice biometrics is used, its database is expanded making the system even more accurate and secure.
At grupoGBI, we develop on-demand voice biometrics systems, adjusting them to your company's needs.
Get to know our solutions: CONTACT US.