Healthcare helps Nuance beat quarterly expectations
25 November 2014 14:16 GMT

Banks around the world are using Nuance’s voice authentication solutions.

Voice recognition software firm Nuance has achieved better-than-expected quarterly results thanks to growth in its healthcare sector.

Nuance, who last week noted that Abu Dhabi Commercial Bank, Banco Santander Mexico, and Vodacom were all using its voice authentication solution, has reported that total revenue rose 6.4 percent to $502.3 million in the quarter ended 30 September.

The result means the Massachusetts-based company's net loss fell to $1.5 million, including a $21 million income tax provision benefit, from $32.3 million a year earlier. On an adjusted basis, the growth translates into earnings per share of $0.33, versus the $0.27 per share that many had expected and the $0.30 per share Nuance earned last year.

The company, whose voice recognition software runs Siri on Apple's iPhones, said revenue from its healthcare business rose 7 percent and accounted for 47 percent of total revenue in the fourth quarter.

"The economic improvement, the affordable healthcare act are the two main drivers for the increased usage of their healthcare services," Avondale Partners LLC John Bright told Reuters.

Nuance healthcare products include software that is used to transcribe medical records.

Nuance Communications said that its voice biometrics solutions were being deployed around the globe as an effective means to replace PINs, passwords and security questions for customer authentication.

“Organizations around the globe are demonstrating first-hand that voice biometrics is a desirable alternative to PINs and passwords,” said Robert Weideman, executive vice president and general manager for the Enterprise Division of Nuance. “The ‘password problem’ is universal, and voice biometrics offers a proven alternative for organizations to enhance security and at the same time improve their customer experience.”

The company noted that its voice biometrics solutions had also been adopted globally by organizations such as Barclays Wealth & Investment Management, ING Netherlands, Tangerine Bank, Tatra Banka, TD Waterhouse, Turkcell, T-Mobile and Vanguard.

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