17 March 2020

HSBC celebrates the security of Voice ID

Written By FinTech Alliance

HSBC celebrates the security of Voice ID

The bank claims voice biometrics in call centres prevented almost £400 million in fraudulent activity.

In Brief

  • VoiceID, introduced by HSBC in 2016, is currently used by over 2 million active customers
  • It works by recognising unique characteristics of a customer’s voice, to enable safe and speedy access to telephone banking.
  • Since the technology was introduced in the UK, over 29,000 fraudulent calls have been identified and over £395 million worth of customers’ money protected.

What this means

Increased activity by fraudsters is causing a significant number of high-profile third-party data breaches, phishing emails and scam text messages for all banks. VoiceID is proving to be part of the solution - restoring trust and making savings for HSBC.

Read more

Up Next ...
28 September 2023

Apron raises $15m

Former Revolut product lead and Square operations lead Bogdan Uzbekov ...

28 September 2023

Citi seeks global head of instant payments

Citi is recruiting for a senior executive to build a ...

28 September 2023

Atom Bank partners with Kamma

UK challenger bank Atom is attempting to address the environmental ...

27 September 2023

Mintago closes $4.75m funding round

London based Mintago, a financial wellbeing fintech, has raised a ...

More in Fraud Detection

Mastercard AI tool helps UK banks take on real-time payment scams

06 July 2023

Mastercard is tapping into its AI capabilities to help a ...

Pay.UK partners with Visa, Synectics Solutions, and Featurespace

03 July 2023

Partnership will be aimed at preventing fraudIN BRIEF: - Pay.UK operates ...

Posted By The Community

Breaking the Chain of Illicit Finance: Utilizing Network Clique Detection for Advanced Anti-Money Laundering

21 June 2023

Fraud detection is a crucial task in various industries such as finance, insurance, and e-commerce. A major problem, however, is the high rate of false positives in alert...

Written By: Data Reply

Posted By The Community

Fraudsters are underestimating the power of AI to detect fake IDs, says new Ondato report

11 April 2023

Fraudsters are underestimating the power of AI to detect fake IDs, according to a new report from On...

Written By: Ondato

White Papers Fraud Detection

NetGuardians: The Top Banking Fraud Types to Watch in 2022

09 March 2022

Download this paper to understand:The full range of banking frauds that specialists are seeing right...

Articles Fraud Detection

PwC’s Global Economic Crime Survey 2020: UK findings

13 May 2020

Fraud and economic crime - an evolving challenge #EmergeStronger Is your organisation ready to re...

There are no Events in this category