Voice ID system could make banking easier

(WXYZ) - Every time you call the bank, you need to verify your address, your pin number. Sometimes you even have to answer those dreaded security questions: What's your mother's maiden name? What is the first street that you lived on as a child? 

Well, a new voice verification system, could help people avoid all of that hassle.

NICE Systems, a company in Israel created the real-time authentication system--it takes a customer's previous call recordings and creates a voice print.

Then, when the customer calls back, if the voice print is a match, the caller's identity is automatically confirmed.

Analysts say most call centers take up to 60 seconds for caller verification. The new system would identify callers in less than 15 seconds--allowing the centers to handle higher call volumes.

The company says their system has already been picked up  by several large financial institutions around the world and has a successful match rate greater than 90 percent.

Company officials say they also have heavy fraud protection with this layered voice ID program.

To read more about it, go HERE. 

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