Citi Launches Voice Biometrics Authentication for Asia Pacific Consumer Banking Customers – Business Wire (press release)
5 months ago Comments Off on Citi Launches Voice Biometrics Authentication for Asia Pacific Consumer Banking Customers – Business Wire (press release)
HONG KONG–(BUSINESS WIRE)–For Citi’s Consumer Banking customers in Asia Pacific, remembering
multiple PINs and responding to a series of questions to verify their
identities as they call into the bank will soon be a thing of the past.
Voice biometrics authentication has been implemented in Taiwan with
Australia, Hong Kong and Singapore to follow in the upcoming weeks. It
will be rolled out throughout the region in 2016 and 2017 to cover all
12 of Citi’s consumer banking markets in Asia Pacific that represent
more than half of the bank’s 19 consumer markets globally.
Citi will be the first financial services firm to deploy voice
biometrics authentication across Asia Pacific as the bank builds further
on its successful innovation in retail banking in the region.
Citi has around 15 million Consumer Banking customers in the region and
the bank expects to have at least 1,000,000 customers actively using
voice biometrics authentication in the next 12 months. Within three
years the bank expects the number of users to grow to 3,000,000.
Once available, customers who call into the bank’s contact centres will
have their identity automatically verified within 15 seconds or less as
they explain their reason for calling. This is a reduction from an
average time of around 45 seconds currently or 66% less time spent
verifying their details currently.
The voice biometrics authentication capability identifies customers
through their voice print, which, similar to a fingerprint, is unique to
each person. Citi clients can opt to enroll by recording their voices,
which the bank will use to generate and store their voice prints for
matching subsequent calls to Citibank. Each voice print will be uniquely
tagged and cannot be reverse engineered once stored.
“The voice biometrics authentication capability underscores Citi’s focus
on technology to better serve our customers. We know that remembering
different PINs and answering multiple questions can make the process
frustrating. With this new capability, we offer our customers a faster
and more secure authentication for a better customer experience,” said
Anand Selva, Asia Pacific Head for Consumer Banking, Citi.
“Biometrics will play a critical part in the future of banking and we
are excited to be paving the way for Citi globally. Today, our call
centers in Asia Pacific receive about 35 million calls annually, of
which a large portion are manually verified. With voice biometrics
authentication, we will make the verification process easier, faster,
and more secure for clients,” said Rahul Joshi, Asia Pacific Head for
Consumer Banking Operations, Citi.
Asia is an important region for innovation at Citi. Six years ago the
bank launched its new branch design – called Smart Banking – in Asia for
the first time. The Smart Banking concept involves using technology,
architecture and design and new retail channels to connect customers to
their money and provide them with a better way of banking. Over 200 such
branches have since been rolled out globally since the Asian launch.
Citi, the leading global bank, has approximately 200 million customer
accounts and does business in more than 160 countries and jurisdictions.
Citi provides consumers, corporations, governments and institutions with
a broad range of financial products and services, including consumer
banking and credit, corporate and investment banking, securities
brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com
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Citi Launches Voice Biometrics Authentication for Asia Pacific Consumer Banking Customers – Business Wire (press release)}