Newtown, PA (PRWEB) November 17, 2016
As the financial industry increasingly shifts to digital banking, banks are turning to the latest in technology to fight sophisticated and determined hackers. Voice Biometrics Group (http://www.voicebiogroup.com), a provider of voice biometrics technology for authentication and identification, announces that ACH Alert (http://www.achalert.com) is deploying Voice Biometrics Group technology in its Bio-Wire product suite.
ACH Alert announced a suite of monitoring and prevention products incorporating voice biometrics for banks and credit unions in April 2016 that is now in production with live customers. Bio-Wire, one of the core capabilities in the suite that employs voice biometrics as an additional factor to protect wire transfers, combats vulnerabilities due to corporate account takeover and Business Email Compromise (BEC).
ACH Alert chose Voice Biometrics Group as the underlying voice biometrics technology for Bio-Wire. ACH Alert is using Voice Biometrics Group’s RandomPIN™ (http://www.voicebiogroup.com/voice-biometrics-tutorial.html#random-pin-desc) method for voice authentication. According to John Amein, President of Voice Biometrics Group, “Voice Biometrics Group specifically developed RandomPIN™ to provide a stronger defense against recorded playback attacks compared to the more commonly known passphrase voice biometric. Static passphrases often require separate liveness testing to ensure stronger security, which leaves open another few percentage points of vulnerability to impostors. As a result, nearly 80% of our customers choose RandomPIN™ for voice authentication, even with non-banking applications.”
ACH Alert sees the application of voice biometrics as still in the early stages. “ACH Alert monitored $80B in transactions last year and prevented $615M in fraudulent transactions in 2015. As more banks adopt our Bio-Wire product in addition to the other products in our integrated suite, we expect those numbers to rise significantly,” said Debbie Peace, CEO of ACH Alert. Added Peace, “Voice biometrics has become a key component in our multi-factor solution. We are extremely pleased with the technology and support from Voice Biometrics Group.”
About Voice Biometrics Group:
Voice Biometrics Group software is deployed in both Cloud and On-Premises environments as a biometric factor in multi-factor authentication systems.