Mobile banking is about to get a whole lot more secure. Commissioned by Australian bank ANZ, Apple and iOS are working closely with app designers Nuance to create the first ever voice-recognition security login to be built into smartphone banking apps.
Expected to be launched in ANZ’s mobile goMoney app around July, the new security measure will apply to transactions over $1,000. At the moment, ANZ – and many other banks, in the UK and around the world – do not allow users to transfer four-figure sums through smartphone banking apps. Instead, users have to go into a physical branch to transfer larger amounts of money.
Highlighting the growing importance of mobile security, ANZ Managing Director of Customer Experience Peter Dalton said: ‘A person’s voice has five to ten times as many security points than other methods such as fingerprints. People are becoming more comfortable with using their voice to do basic commands on their devices.”
Voiceprint and biometrics company Nuance is in charge of developing the technology. The company has a solid reputation in this field, having designed the popular dictation software Dragon Naturally Speaking as well as the Swype keyboard available in iOS and Android. The technology is so advanced it can reportedly tell the difference between the voices of identical twins.
Although commissioned by ANZ it is likely that Nuance will begin working with other banks around the world to roll out the voice-recognition technology. Banking apps are always looking to make their systems more secure with many already introducing finger print technology.
Last week, Samsung unveiled its Galaxy S8 that included retina and facial-recognition technology. Currently used for unlocking a user’s phone, it has been mooted that the technology will be rolled out to improve banking security and to authorise payments via the smartphone.