UK lags behind Australia in secure mobile banking
Salmat VeCommerce, a supplier of voice self-service and speaker verification solutions, suggests that the UK's financial institutions are behind their Australian cousins when it comes to tapping the missed opportunities of offering more secure mobile banking services for customers
Salmat VeCommerce's Brett Feldon commented, "What is happening in the financial services community down under could provide some valuable lessons for UK counterparts that want to attract more mobile on-line banking users. Many consumers have been put off because of security fears but one way of alleviating these concerns is to deploy voice biometrics as a means of authenticating the user."
National Australia Bank (NAB) has recently revealed its intentions to adopt voice biometrics for its mobile banking users as a replacement for using SMS pass codes. The motivation is not only linked to improving security but also convenience for the customer.
Brett Feldon added, "The problem with current methods for accessing on-line accounts such as passwords, PINs or even tokens is that they can be lost or stolen. The advantage of using voice biometrics based on an individual's unique voice print is that it can't be compromised and is completely portable, because it travels with you. So if a mobile phone is stolen and may contain sensitive information for bank accounts and so on, the information is rendered useless because a voiceprint is also required for authorisation."
