Citibank has become the first bank in Malaysia to launch a voice recognition system for customer authentication, reports the New Straits Times.
It’s part of Citi’s ambitious plan to become the first bank to enable such a system throughout the entire APAC region, having already deployed the technology in Taiwan, Hong Kong, Singapore, and Australia. Speaking to media, Citibank Malaysia head Lee Lung Nien said the bank is hoping to attain a thousand enrollments per day, and that its ultimate aim is to have every customer enrolled in the system.
It does offer some advantages to customers. In addition to the enhanced security that voice biometrics can offer over the bank’s previous PIN-and-security-question system, it’s also a passive authentication system, allowing customers calling in to the bank to have their identities confirmed without requiring any additional action on their part beyond speaking. That kind of convenience could prove appealing.
Other banks are certainly betting on it, with major names like Barclays and HSBC also embracing voice recognition technology. For its part, Citibank is aiming to have the system in place across APAC by the end of the year.
Source: New Straits Times Online
August 24, 2016 – by Alex Perala