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HSBC UK Reports that Biometric Verification with its Caller ID Program, Voice ID, Reduced Bank Fraud by 50%
HSBC‘s caller ID program
Voice ID has reportedly managed to reduce telephone banking fraud by more than 50% during the past 12 months, indicating that biometric verification can be quite effective in fighting against bad actors.
HSBC says that its voice biometrics system has helped with preventing nearly £249 million of clients’ funds from falling into the hands of telephone scammers (during the past year).
As more consumers engage with digital platforms and tele-banking, HSBC UK has been reporting a significant rise in clients signing up for Voice ID, which is reportedly being used by more than 2.8 million active accounts.
Press release content from Business Wire. The AP news staff was not involved in its creation.
NICE Real-Time Authentication Selected by VPBank to Safeguard Omnichannel Customer Interactions and Improve Experiences
April 27, 2021 GMT
HOBOKEN, N.J. (BUSINESS WIRE) Apr 27, 2021
NICE (Nasdaq: NICE) today announced that Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) has selected NICE Real-Time Authentication (RTA) to enhance call security, prevent fraud and improve customer experiences. VPBank’s adoption of NICE’s self-service authentication for its interactive voice response (IVR) services will simplify contact center call system management and increase IVR containment, resulting in a reduction of interaction volume to live agents. This will empower VPBank to authenticate up to 10,000 customers a day in the IVR as well as reduce average handle time (AHT) by 20-30 seconds, boosting customer experiences on live agent calls.