Lloyds Banking Group has launched Nuance’s voice verification technology, Voice ID, for customers across its franchises such as Lloyds Bank, Halifax and Bank of Scotland.
Image: Lloyds Banking Group headquarters. Photo: courtesy of Carcharoth.
With the support of Voice ID, customers can use their voice to verify themselves for accessing banking services over the phone.
Initially, the customers have to register for Voice ID, and provided their card or account number for verification.
The customers will be asked to say my voice is my password to create a unique voiceprint, and next time they have to call to access their account.
The voice will be analyzed by more than 100 unique characteristics, including their accent, how fast they talk and the unique size and shape of their vocal chords to determine if the caller matches the stored voiceprint.
Finally, the successful match will be granted account access.
Lloyds Banking Group telephone banking managing director Martin Dodd said: “Today we use hundreds of passwords across our connected lives, and remembering each one can be difficult.
“Voice ID makes telephone banking with us safer, quicker and easier than having to remember often cumbersome passwords, and we’re proud to have made this technology available to our customers.”
Lloyds conducted significant testing before launching Voice ID technology. It carried out pilot test with over 50,000 customers for better implementation of the technology.
The pilot has been conducted to test technology’s working with diverse customer base, including vulnerable customers.
Lloyds’ registered customers can access the Voice ID, which is support by the providers of the technology, biometrics and conversational AI expert Nuance
Nuance Enterprise security business general manager Brett Beranek said: “Voice biometrics far outpaces traditional authentication because it’s safe, convenient and more effective than pins and passwords for consumers.
“It is also inherently more difficult for a fraudster to replicate an individual’s voice than it is to get their knowledge-based password.”
Lloyds Banking Group provides a range of banking and financial services to the customers in the UK. Its major business operations include retail, commercial and corporate banking, general insurance, and life, pensions and investment provision.