Speech Recognition and Voice Biometrics for Banks in India
Published: 2012-06-29 - Updated: 2021-08-26
Author: Nuance Communications, Inc. | Contact: nuance.com
Synopsis: Expanding the use of Nuance Speech Recognition and Voice Biometric Solutions in banking institutions throughout India. At Nuance, we believe that the use of voice biometrics in financial service applications provides the most scalable, secure and cost effective means of protecting and serving the interests of rural consumers in India. Mobile Voice Banking supports 14 languages and dialects common in India, including Indian English, Hindi, Bengali, Gujarati, Kannada, Malayalam, Marathi, Oriya, Punjabi, Tamil, Telugu, Assamese and Bhojpuri, and Urdu.
Nuance Communications, a fast-growing software company focused on delivering speech-based mobility solutions to businesses, announced a partnership that will expand the use of Nuance Speech Recognition and Voice Biometric Solutions in banking institutions throughout India.
Biometrics is defined as the science and technology of measuring and analyzing biological data. In information technology, biometrics refers to technologies that measure and analyze human body characteristics, such as DNA, fingerprints, eye retinas and irises, voice patterns, facial patterns and hand measurements, for authentication purposes.
Nuance Voice Biometrics solutions enable a cost-effective and secure way to authenticate customers using their voice as their password. Speech as a medium for authentication is especially important in rural areas of India, where personal computer (PC) ownership and web-based banking is limited, and literacy levels are lower than in other parts of the country.
By leveraging Nuance solutions, Uniphore has developed a mobile voice banking application that identifies customers with voice biometrics, and processes the entire transaction through the use of speech-based navigation. Users can conduct banking and commercial transactions with any mobile phone, including low-cost feature phones, entirely through automated conversation. All transactions occur in real-time, have local language options, and provide customers with account updates using Nuance text-to-speech and outbound text message technologies.
The Uniphore partnership expands Nuance's capabilities in India, which is among the fastest growing economies in the world. Uniphore will ensure rigorous compliance with banking regulations across the country, enabling these institutions to extend their services to diverse segments of the population without investing in cost-intensive infrastructure or hardware. Ultimately the partnership will extend to the development of applications in other verticals, including mHealth and mCommerce.
Sunny Rao, Managing Director, India and South East Asia, Nuance Communications, said:
"At Nuance, we believe that the use of voice biometrics in financial service applications provides the most scalable, secure and cost effective means of protecting and serving the interests of rural consumers in India. In combination with Uniphore, we will be able to develop safe, convenient banking applications for this market - to help make true financial inclusion a reality."
Umesh Sachdev, Co-Founder and CEO, Uniphore Software Solutions, said:
"Uniphore exists to deliver voice-based applications that promote business outreach across all social, economic, and geographic markets by leveraging the ubiquity of mobile phones in India. Nuance's Speech Recognition and Voice Biometric Solutions are the best in the industry and with local support resources Nuance is the perfect partner. We are very excited by the possibilities of utilizing Nuance's solutions on behalf of our customers to deliver secure, convenient banking applications to the rural market - taking rural banking and eventually mHealth and mCommerce to a whole new level."
The Uniphore Mobile Voice Banking application is powered by Nuance Vocal-Password, an advanced voice biometric solution that verifies a speaker's identity based on voice samples acquired during interactions with voice, web, or mobile apps. The application also leverages Nuance Recognizer, the industry leading Automatic Speech Recognition (ASR) engine, to enable speech-based navigation of transactions. Mobile Voice Banking supports 14 languages and dialects common in India, including Indian English, Hindi, Bengali, Gujarati, Kannada, Malayalam, Marathi, Oriya, Punjabi, Tamil, Telugu, Assamese and Bhojpuri, and Urdu.
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Cite This Page (APA): Nuance Communications, Inc.. (2012, June 29). Speech Recognition and Voice Biometrics for Banks in India. Disabled World. Retrieved July 4, 2022 from www.disabled-world.com/assistivedevices/biometrics/biometrics-banks.php
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