Canada's TD Waterhouse Discount Brokerage has introduced a voice authentication system which will be used instead of questions to verify the identity of clients over the phone.
TD Waterhouse says its new voice print system allows clients to create a unique 'voiceprint' which is converted into a mathematical representation of their voice. This is stored on file and used to verify their identity whenever they call staff.
Investors sign up to the system by calling an automated enrolment system. A simple process is followed to register their voice print and link it to their account.
When the client calls again, the system compares the real-time voice with the stored mathematical model generated at enrolment. If there is a match, the caller has been verified.
Commenting on the new service, John See, president, TD Waterhouse Discount Brokerage, says: "In fast moving markets, clients want speed and security, and TD Waterhouse voice print system offers both."