ICICI launches voice password facility for users

In Banking and Finance
May 25, 2015

India’s largest private sector bank, the ICICI bank has launched a voice password facility where customers can make transactions using just their voice. Now there is no need to use other methods like authentication of password. The voice recognition facility authenticates customers on the basis of their speech patterns. It allows customers to execute banking transactions through the bank’s call centre.

For phone banking transaction, customers usually use authentication like entering card numbers, answering security questions and entering a personal identification number. Now the service is more secure as the voice of the customer acts as a password. This service is now available to more than 33 million savings bank and credit card customers.

ICICI Bank’s MD and CEO Chanda Kochhar said that hands-free alternative has the potential to increase security and convenience as the customers using mobile phones find tough to enter the 16 digit card number and 4 digit pin number while transaction.

The voice print technology works on unique ‘voice prints’ which comprise over 100 characteristics such as voice modulation, speed, accent and pronunciation, which are impossible to imitate. The voice print also stores and matches the calls of the customer from the registered mobile number.