New voice technology replaces PIN codes

NAB has said it is the first bank to use a voice system for phone banking that allows its customers to enroll through speech recognition in order to dispense with PINs and passwords.

Callers register a voiceprint, then speak their individual account number into the system which will then authorise the identity of the caller. Telstra financial services general manager Rocky Scopelliti told The Australian the system will raise the standards of banking.

“Raising the bar on the customer’s experience is the key to driving business growth,” Scopelliti said. “This solution boosts productivity, while fundamentally addressing concerns about fraud.”

Centrelink has implemented a similar system, which has allowed its call centre staff to focus on other issues.