Eastern Bank deploys voice biometrics
18 June 2015 16:12 GMT

Nuance Communications has announced that Eastern Bank, the largest and oldest mutual bank in the United States, has deployed its voice biometrics technology.

Previously, when Eastern Bank’s customers contacted the Customer Service, they had to prove their identity by answering a series of security questions before proceeding with their phone call.

Now, when a customer calls Eastern Bank, they engage in natural conversation with a customer service agent, and during that time, Nuance’s FreeSpeech voice biometrics technology is used to compare the customer’s voice to their unique voiceprint, signaling to the bank representative when the customer’s identity has been verified, and granting them access to their account.

Eastern Bank’s voice biometrics project is part of a portfolio of technology investments aimed at reinventing how customers bank. Eastern’s other publicly announced technology initiative, Eastern Labs, is unique among bank innovation groups in its mandate to both create new data-driven technologies and to spin successful technologies out into new companies.

“We heard from our customers that verifying their identity through answering security questions was a frustrating process – and we listened and made meaningful changes,” said Bob Rivers, President and Chief Operating Office, Eastern Bank. “Voice biometrics allows our customers to get service in the most natural and intuitive way, through their voice. The end result is a better and more effortless experience for our customers.”

“As the first bank in North America to launch voice biometrics in the call center, Eastern Bank is ahead of the innovation curve,” said Robert Weideman, executive vice president and general manager for the Enterprise Division of Nuance. “Voice biometrics is a more natural experience for customers while also offering a level up in security. Through delivering this technology to its customers, Eastern Bank is demonstrating a true commitment to reinventing the customer experience.”

New data from Opus Research shows that the voice biometrics authentication market is poised to grow from $200M (2013) to $750M globally in 2017. Nuance voice biometrics technology leads the industry, with over 50 million voiceprints deployed by its customers, representing over 80% of the commercial market.

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