BARCLAYS VOICE RECOGNITION TO KILL TELEPHONE BANKING PASSWORDS - Top Stories news and analysis from Global Banking & Finance Review
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BARCLAYS VOICE RECOGNITION TO KILL TELEPHONE BANKING PASSWORDS

Published by Gbaf News

Posted on June 24, 2014

2 min read

· Last updated: November 21, 2018

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Expert Opinions on Voice Recognition Security

Comment from Jason Hart, VP Cloud Solutions at SafeNet:

Jason Hart

Jason Hart

“It’s not surprising that Barclays is making the move away from password-based authentication for its telephone banking.We have so many passwords to remember that we choose easy-to-guess passwords, use the same passwords for several accounts, or even write down passwords where they can be easily found. So organisations need to look for alternative ways to authenticate users and bolster security. This means, not relying on basic username and password for customer authentication and adopting a holistic security strategy that offers multiple layers of protection, such as multi factor authentication and encryption.

Biometrics as a Single Factor Risk

“While biometrics can provide a convenient and alternative security mechanism, it should not be used as a single factor authentication solution. This is partly because of the fact that biometrics are not based on secrets. Your voice, your image and your fingerprint are not a secret. You leave them everywhere and they can be spoofed, with different levels of effort. So it’s important that they are used as part of a multi-factor authentication strategy.”

Industry Perspectives on Password Elimination

Comment from Chris England, Director at Okta:

“The move to abolish passwords will no doubt be welcomed by customers. Today we have so many passwords to remember, all of which have different requirements and expiration cycles. As a result, most of us suffer from “password fatigue” where we use obvious or reused passwords often written down on Post-it notes or saved in Excel files on laptops.

Chris England

Chris England

Limitations of Passwords and Single Sign-On

“We’ve reached a point where usernames and passwords alone are no longer good enough. We’ve long had single sign-on technologies to remove the complexity of remembering multiple passwords, but what if someone else gets a hold of that single username and password? Not surprisingly, multi-factor authentication– which requires two or more factors to verify legitimacy of the user – has taken off and evolved pretty substantially in the past decade and we’re now seeing authentication methods becoming as personalised and specific to the individual as the experiences they’re trying to access. At Okta, we’ve already seen a lot of organisations implementing more flexible, adaptive, people-centric authentication methods and expect to see more following in Barclays’ footsteps.”

Key Takeaways

  • Barclays is replacing telephone banking passwords with voice recognition to increase security and convenience.
  • Voice biometrics builds a unique voice print over approximately two to three calls and then authenticates based on unique vocal features.
  • Experts warn that biometrics should be part of multi-factor authentication, not a standalone solution.
  • Voice biometrics reduces password fatigue and speeds up authentication while enhancing fraud protection.

References

Frequently Asked Questions

How does Barclays voice recognition for telephone banking work?
Barclays collects a customer’s voiceprint over two to three calls and then authenticates future calls by matching the unique voice features, replacing passwords and security questions.
Is voice biometrics secure enough on its own?
While voice recognition enhances convenience, experts advise using it as part of multi‑factor authentication, since biometric traits are not secret and can be spoofed.
Does voice recognition eliminate passwords completely?
Voice recognition largely replaces passwords for telephone banking, but passwords may still exist in other channels and customers can opt out of voice authentication.

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