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NIB: Voice recognition banking: Experian adds stats PDF Print E-mail
Wednesday, 03 August 2016
In response to the news that banks are increasingly turning to voice recognition, Experian’s ID expert Nick Mothershaw explains how the shift to biometrics is viewed by the business community. 

Recent innovations have brought biometrics into everyday life. While a large proportion of adults are already embracing biometrics in areas like fingerprint recognition to unlock their devices, the next couple of years are when we’ll see the biggest boom in even more types. Fear of falling victim to ID fraud and perceptions about security have driven this acceptance to some degree”.

“Biometric identification has the potential to add a very secure layer to current security processes and, far more importantly for widespread adoption, a seamless experience when managing customer accounts. Biometrics like fingerprints or voice – unlike passwords and log-ins – are ‘us’. They are difficult to fake or recreate. However, it would be wrong to say that biometric technology should be adopted in place of passwords, because the best way to stop fraudsters is to make them face a number of barriers. Not just one. Criminals will always go for low hanging fruit, so it up to us to make our houses as safe as possible. The fewer the layers of security, the more vulnerable to theft those systems are. Of course there needs to be a balance between risk prevention and the experience of the person trying to log on.”

Experian’s research of among 2002 nationally-representative people showed that 76 per cent agree that “biometrics is the future of identity verification”

Despite this acceptance, banks need to be aware that: Only one in twenty (5%) say they’d be happy using voice recognition technology to unlock their online accounts.

Despite voice recognition having been around for over 20 years, there could be a long-term cultural resistance to just this as a technological innovation.

Other findings include:
Fingerprint scanning is the biometric identification most UK adults are comfortable with: 40 per cent say they would be happy relying on it to access online accounts
Less than one in five (19%) of people were willing to have their ID verified by retina scanning
Less than one in ten (9%) would be comfortable with camera facial recognition as identification
 
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