Voice authentication is a proven and secure method of authentication that strengthens consumer protections against identity fraud. More than half of U.S. consumers recognize the efficacy of voice authentication, but adoption among financial services remains too low, particularly in relation to more antiquated authentication methods, such as static passwords. Consumers are participating in mobile banking at higher rates and taking an interest in their own account and identity security. Financial institutions must narrow the gap between the high number of consumers who say they want more security features and the lagging adoption rates in the market.
Key questions discussed in the report:
- How has consumer acceptance and adoption of voice authentication evolved over the past year?
- How can financial institutions bridge the gap between consumers’ desires for stronger security features and the slow rate of adoption within the market?
- Should financial institutions present voice biometrics/verification as an authentication option or make it a requirement?
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