Communications and Technology Industry Research

SpeechStorm (News - Alert), the provider of speech self-service solutions for contact centers, has today announced that the UK’s first consumer-led survey into awareness and attitudes around Voice Biometrics is in the works.

 

Consumers covering a wide range of age groups across London and Birmingham are participating in face-to-face interviews in order to provide insight into how Voice Biometric technology is understood, its benefits and restraints and how consumers are likely to utilize the technology in their day to day lives.

The SpeechStorm survey was conducted with Genesys (News - Alert) Laboratories, under the guidance of Professor Michael McTear, a leading researcher of speech recognition from the University of Ulster.

 

Voice Biometric technology use is gaining popularity with many banks and financial services institutions as a way to protect customers from identity theft and telephone fraud attacks.

Estimate by Home Offices, identity theft in the UK costs the British economy £1.7 billion annually and is one of the fastest growing crimes in the UK, with a growth rate of 500 percent since 1999.

 

The dramatic increase in telephone fraud is in directly related to identify theft. All current telephony transactions are based on knowledge verification from the caller (account number, PIN, postcode, etc).

 

When fraudsters gain access to this information, the financial institution cannot easily tell when a fraudulent transaction is happening. This unique survey will offer valuable and very timely insight into how consumers view this technology and how it might help address identity theft.

“At SpeechStorm we have taken a pioneering role in developing demonstrable voice biometric solutions that allow both the consumer and financial services provider to see what can be achieved with this technology,” commented Oliver Lennon SpeechStorm’s CEO.

 

“This is a rapidly developing market and the survey will contribute significantly to advancing our understanding of the distinct perceptions and needs of consumers with regards to voice biometrics. We look forward to unveiling these unique insights and furthering market awareness and development as a result,” Lennon added.

The top level survey results should be available sometime in June.

Michelle Robart is a Contributing Editor at TMCnet. To read more of her articles please visit her columnist page.