Nuance wants part in new Australia payments system
18 January 2018 14:42 GMT

Voice biometrics firm Nuance says its tech could play a role in a new Australia payments system.

From next month, Australians will be able to transfer money from one person to another in near real-time, using an email address or phone number, rather than the traditional BSB or account number process.

Financial institutions in Australia have already begun sending payments across the New Payments Platform (NPP), testing the technology before its public launch in February.

"The platform is already live, and employees at some of the participating banks, building societies, and credit unions are already sending payments to each other via the platform," a spokesperson for New Payments Platform Australia Limited told the tech magazine ZDNet.

"Once the platform launches, the participating banks, building societies, and credit unions will commence rolling out their NPP-enabled services to their customers."

Robert Schwarz, Australia and New Zealand managing director for speech software firm Nuance, told ZDNet previously there is an important place for voice biometrics to curb the influx of fraud that could emerge in an instant payments environment.

"Stopping fraud and unauthorised transactions upfront is going to be really important to banks," Schwarz said last year. "Implementing voice biometrics is a much more secure method of identifying and authenticating the user or the account owner, and is certainly going to help mitigating more of that fraud as these new systems come in."

Industry Events