HSBC blocks £249m in UK fraud with voice biometrics
HSBC voice recognition technology has reduced telephone banking fraud as demand for the channel increases
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Published: 06 May 2021 11:00
HSBC said that telephone banking fraud has been reduced by 50% since the introduction of a biometric security system that authenticates customers through their voices.
The bank said about 2.8 million customers have signed up to use its Voice ID system as demand for telephone banking increases during the pandemic. It estimates that the extra layer of security has prevented £249m of UK customers’ money falling into the hands of criminals in the last year.