ICICI Bank has launched a voice recognition service capable of identifying and authenticating a customer on the basis of his voice. It will allow bank customers to carry out their banking transactions with great ease and security, thereby sparing them the task of remembering the account passwords.
Customers generally use authentication means, such as card numbers or PIN, security questions, in order to make a phone banking transaction. But with this new technology, the bank will store the unique voice print of customers against their accounts and match them. Whenever a customer will call the bank from their registered mobile number, they will be offered a hassle-free and seamless experience.
“We have noticed that customers, especially those who use smartphones, find it difficult to enter the 16-digit card number and the four-digit PIN with accuracy and at a reasonable speed. We wanted to offer them a secure and hands-free alternative to the traditional on-screen commands on smartphones. The voice recognition service has the potential to increase security and convenience,” said Chanda Kochhar, Managing Director and Chief Executive Officer, ICICI Bank.
ICICI’s voice recognition service will work on the voice prints that will include about 100 characteristics, including voice modulation, speed, accent and pronunciation, which are unique to each individual and thus, impossible to imitate. This first-of-its-kind service from the country’s largest private lender ICICI Bank is available to more than 33 million customers of savings account and credit card.
Among ICICI Bank’s several technology-driven initiatives, most notable ones are –applications for mobile banking, fully automated and touch banking branches, tab banking, banking on Twitter, contactless debit and credit cards, and ‘Pockets’ – an app that serves as a digital bank. The bank also offers a Video Banking app for their Wealth and NRI Pro/Premia customers, allowing them to easily connect with the Bank’s customer service representatives.