Nuance Creates First Biometrics Solution for Banking Video Calls
The Industrial Bank of Korea has deployed voice biometrics technology from Nuance Communications to create the banking industry's first biometrics solution for video calls.
Leveraging Nuance AI, IBK is already protecting more than 100,000 customers from fraud by automatically authenticating their identities during both video and phone conversations. IBK turned to the Nuance Gatekeeper biometrics platform that protects more than 600 million consumers worldwide. The AI-enabled solution analyzes customer voices for more than 1,000 characteristics, including both physical traits and behavioral characteristics like rhythm, intonation, and pace.
With Gatekeeper, registered IBK customers can securely communicate with customer support via phone and video chats without worrying about their personal identifiable information being replicated by fraudsters.
Nuance customers report that the volume of fraud attacks has risen by as much as 400 percent depending on the industry since the start of the pandemic.
IBK launched voice biometrics authentication formally to its customers in June. Since then, the company has enrolled more than 100,000 customers.
"Face-to-face banking transactions are far less frequent now as a result of the pandemic, and we've made it our top priority to ensure customer safety, convenience, and experience is maintained despite that," said Shinwoo Kang, customer service strategy manager at IBK, in a statement. "With Nuance Gatekeeper, we've made it easier and more secure than ever for customers to bank by phone or video without having to visit our branches. This type of advanced, AI-enabled biometrics technology is the future of financial transactions in Korea, and we're proud to already be delivering on that for our customers."
"IBK is the first bank we've seen leverage biometrics for voice authentication during video calls—a trend we anticipate will only increase in the future," said Brett Beranek, vice president and general manager of Nuance, in a statement. "This is a perfect example of how to leverage AI to adequately protect consumers during a time of increased, advanced fraud attacks brought on by the reliance on digital experiences in recent months."
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