Financial services group Voice Commerce has developed KYC Secure – a regulated biometric database designed to secure and authenticate a consumers identity over a mobile phone.
Claimed to be the first of its kind, the KYC Secure database aims to provide any company or financial institution with the means to verify a customers identity based on their biometric Voice Signature.
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Using the KYC Secure database, an organisation requesting an identity check would ask for the potential customers mobile number, which it would enter into the databases website. The customer then receives a call on their mobile handset and is asked to identify themselves using their Voice Signature. If the applicant is confirmed using this method, they are required to relay a four digit number provided to them back to the organisation. All information is then inputted into the database.
The development of security and authentication services over the internet has seen a slow evolution and today many people are still exposed to card fraud and identity theft, said Nick Ogden, CEO of Voice Commerce Group.
To try and prevent the same issues from occurring for mobile and potential e-money users, where some five billion consumers are already looking to tap into the m-commerce market place, we needed to think outside the box and create a whole new system of identity verification and authentication.
KYC Secure offers an environment where organisations can collaborate to encourage consumers to use a federated account system that they alone control. Just as the Voice Transact database becomes richer for organisations to use so to do the services available for consumers to instantly sign up to, enabling all parties to benefit from the massive opportunities provided by mobile commerce.
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By GlobalDataKYC Secure brings together Voice Commerces subsidiary VoicePay voice signature technology provider and its card acquiring subsidiary Cashflows payment systems and ensures Voice Signatures are verified before being stored in the secure VoiceTransact database.
