Voice Biometrics - Protection Against Cyber Attacks
Conventional passcodes and fingerprints are susceptible to hacking and cloning methods in today's digital era where cyberattacks are on the rise. Voice biometrics can assist in mitigating these obstacles and go into use much more quickly by serving as a layer of preventative protection in case of data breaches or identity thefts. Voice biometrics can also assist in speaker verification using cutting-edge voice recognition technology to find and report scams, breaches, and irregularities to the appropriate authorities.
Many organizations are working to integrate voice biometrics technologies into various solution platforms so they can improve security and experience, and present an additional potential for market expansion. Currently, the market for voice biometric technology is expanding rapidly. According to MarketsandMarkets, the market will be worth $3.9 billion by 2026, growing at a CAGR of 22.8%.
According to a study conducted by UK Finance, telephone banking scam damages decreased by 7%, and the number of incidents dropped by 50% within the first half of 2021. The study highlights that the decline was largely attributed to the adoption of voice biometrics, which it claimed makes it more difficult for fraudsters to execute such offenses.
Successful voice recognition is a prerequisite for a voice biometric system's competency, to have an impact on the entire performance of the program. The lack of effectiveness of alternative security methods, combined with the precision, reliability, and user-friendliness of voice biometrics help advocate for a more positive user acceptance rate for voice biometrics technology.
Voice biometrics corresponds more to the present than the future, as many industries, including banking and finance, healthcare, and manufacturing, already use speech and voice recognition for security purposes. Financial institutions use voice biometrics to enhance security for their customers and employees. The use of voice biometrics technology in forensics and law enforcement can stand out to be significant.
Today, Auraya continues to improve upon its EVA Voice Biometrics technology, enabling organizations and its customers to interact safely and securely on any channel platform, using any language. Organizations can integrate EVA Voice Biometrics into their contact centers in the IVR as well into their web-based solutions such as chatbots and portal logins for secure and swift identity authentication.
Staying protected does not have to be a stressful and long-delayed experience. Using the appropriate security systems and monitoring for possible breaches can help companies avoid becoming cybercrime victims.
