Over one million Citi consumer banking customers in Asia Pacific have used its voice biometrics authentication service.
The number has been reached although the tool was just launched in May 2016, the bank said today in an announcement.
Voice biometrics authentication has been implemented in Taiwan, Australia, Singapore, Hong Kong, Philippines, Malaysia, Vietnam, Thailand and India. Citi was the first financial services firm to deploy voice biometrics authentication across Asia Pacific.
The voice biometrics authentication capability identifies customers through their voice print, which, similar to a fingerprint, is unique to each person. Citi customers 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 is uniquely tagged and cannot be reverse engineered once stored.
"We are making banking easier for our clients by leveraging digitization and innovation which helps deliver a remarkable client experience. The rapid adoption of mobile and other digital channels has truly transformed how people bank and we are delighted that Voice Biometrics has proved such a hit with our clients," said Anand Selva, Head of Asia Pacific Consumer Banking for Citi.
During 2016, Citi’s Consumer Banking business in Asia Pacific, that spans 12 of 19 global consumer markets, was transformed into a model that is simpler, dramatically faster, more scalable and far more digital.
In 2016, Citi announced a new digital innovation or partnership fortnightly on average. Today, more than half of the bank’s consumer bank clients use digital channels with mobile being the fastest growing channel with 35% growth year-on-year.
One out of every four new credit card accounts acquired comes from digital sources and over 50% of the bank’s clients are actively using digital banking channels, up from 30% three years ago.
During 2016, Citi announced strategic partnerships in leading digital ecosystems across the region. Some of these included Alibaba's Alipay and Tencent's WeChat in China, and Line in Thailand and Taiwan.