23 August 2014

Voice Commerce launches UK transaction authorisation platform

27 April 2010  |  9951 views  |  2 iphone apps on screen

Voice Commerce has launched a platform that enables businesses in the UK to authenticate and authorise transactions using 'voice signatures'.

Tapping technology from Nuance Communications, the firm says its VoiceTransact Trust Centre platform offers easy, cost effective voice-based prevention against identity theft and fraud.

The 'centres' store voice signatures that enable an individual's identity to be validated and authenticated in real-time, anywhere, using any type of mobile device. These signatures combine an individual's voice biometrics with their transactional history, trends and location patterns.

Nick Ogden, CEO, Voice Commerce, says: "The Trust Centre will provide businesses with the capability to offer authentication and verification services across a wide spectrum of sectors, including healthcare, aviation and financial services, which has historically been a significant challenge for businesses."

Ogden says the firm is now working with Nuance to roll out VoiceTransact Trust Centre worldwide through its existing 51-country network.

"Over the coming year we expect to see the use of our guaranteed voice signatures become commonplace in financial services replacing passwords and PINs. Since we already all use our voice as the natural way to authenticate oneself, voice signatures are inherent for consumers to use and it means an end to having to remember multiple pins and passwords," he claims.

The new service comes shortly after Voice Commerce received authorisation from the Financial Services Authority to establish as a Payment Institution under the European Payment Services Directive (PSD). The firm has also since become the first payments institution under the PSD to become a principal member of Visa Europe.

Comments: (2)

Andrey Sokolov - CMA Small Systems AB - Moscow | 27 April, 2010, 12:41

OK, it sounds great, but it's very interesting to know about real using of voice signatures in real transactions. What the features will guarantee against electronic based voice fraudulent manipulations?

Nick Ogden - Novmo.com - Jersey | 28 April, 2010, 13:06

Thanks for your comment Andrew.

The guarantee on the fraudulent transaction is 100%. If it's a business they are completely protected against fraud, and we know the identity of the account holder through appropriate know your customer procedures which we are required to perform as a Regulated Financial Services company.

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