Nuance Communications says it is enjoying a ‘biometric boom’ and has hit a new milestone in adoption of its voice authentication technology.
The company has announced that there are now 300 million end user customers authenticating their identities with Nuance technology, with over five billion authentication transactions process each year. Almost two dozen of Nuance’s enterprise clients have now established over a million voiceprints of their end customers.
Looking to more specific case studies, Nuance says that one of the UK’s top five banks prevented about $5.5 million in fraud within a year after introducing voice biometric security, while another UK bank stopped $6.2 million in fraud in under six weeks. Meanwhile, an American telecom prevented over $1 million in fraud by catching fraudsters trying to order expensive smartphones.
Also worth noting: Nuance’s clients cover a range of sectors and industries, from the Royal Bank of Canada to Vodafone Turkey to the Australian Taxation Office.
The company’s success helps to illustrate a broader trend, with a growing number of commercial enterprises and government organizations looking to biometric technology to help improve security and prevent fraud. As a leader in voice-based authentication, Nuance appears to be reaping the benefits of this trend, as are its customers, evidently.
January 31, 2018 – by Alex Perala