25 May 2017
Visit EBAday.com

Voice Commerce launches UK transaction authorisation platform

27 April 2010  |  10745 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)

A Finextra member
A Finextra member | 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?

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Nick Ogden
Nick Ogden - ClearBank - London | 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.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Voice Commerce out of WorldPay running as field narrows

Voice Commerce out of WorldPay running as field narrows

15 April 2010  |  9536 views  |  0 comments
Voice Commerce recruits RBS WorldPay's Tim Reynolds as CTO

Voice Commerce recruits RBS WorldPay's Tim Reynolds as CTO

20 January 2010  |  9769 views  |  0 comments
NAB ponders voice biometrics for m-banking

NAB ponders voice biometrics for m-banking

26 November 2009  |  15985 views  |  0 comments
Voice Commerce wins Payment Institution license from the FSA

Voice Commerce wins Payment Institution license from the FSA

11 November 2009  |  10047 views  |  0 comments
Aviva Australia introduces voice biometrics

Aviva Australia introduces voice biometrics

11 June 2009  |  7289 views  |  0 comments
NAB introduces voice biometrics for phone banking

NAB introduces voice biometrics for phone banking

10 June 2009  |  12337 views  |  1 comments
Voice Commerce launches biometric payments system for TV advertisers

Voice Commerce launches biometric payments system for TV advertisers

15 December 2008  |  9137 views  |  0 comments
WorldPay founder launches voice authentication system

WorldPay founder launches voice authentication system

30 April 2007  |  7677 views  |  0 comments
UK and US consumers ready for biometrics, says Unisys

UK and US consumers ready for biometrics, says Unisys

07 February 2007  |  8818 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit vasco.com/news/PSD2-compliant-solutionsvisit www.events.sap.comvisit dh.com

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
10235 views comments | 47 tweets | 70 linkedin
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
9680 views comments | 22 tweets | 31 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
9223 views comments | 21 tweets | 24 linkedin
UK SMEs missing out on £1.6bn by not accepting 'next gen' paymentsUK SMEs missing out on £1.6bn by not...
6922 views comments | 25 tweets | 18 linkedin
Bank/fintech collaboration can take transaction banking to new heightsBank/fintech collaboration can take transa...
6905 views comments | 12 tweets | 24 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job