Citi Launches Voice Biometrics Authentication for Asia Pacific Consumer Banking Customers
May 18 2016 - 6:22PM
Business Wire
First bank to roll out voice biometrics
authentication across the region targets 1,000,000 users in 12
months
For Citi’s Consumer Banking customers in Asia Pacific,
remembering multiple PINs and responding to a series of questions
to verify their identities as they call into the bank will soon be
a thing of the past.
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Citi Asia Pacific CEO Francisco
Aristeguieta announces that Citi has launched Voice Biometric
Authentication for clients.
Voice biometrics authentication has been implemented in Taiwan
with Australia, Hong Kong and Singapore to follow in the upcoming
weeks. It will be rolled out throughout the region in 2016 and 2017
to cover all 12 of Citi’s consumer banking markets in Asia Pacific
that represent more than half of the bank’s 19 consumer markets
globally.
Citi will be the first financial services firm to deploy voice
biometrics authentication across Asia Pacific as the bank builds
further on its successful innovation in retail banking in the
region.
Citi has around 15 million Consumer Banking customers in the
region and the bank expects to have at least 1,000,000 customers
actively using voice biometrics authentication in the next 12
months. Within three years the bank expects the number of users to
grow to 3,000,000.
Once available, customers who call into the bank’s contact
centres will have their identity automatically verified within 15
seconds or less as they explain their reason for calling. This is a
reduction from an average time of around 45 seconds currently or
66% less time spent verifying their details currently.
The voice biometrics authentication capability identifies
customers through their voice print, which, similar to a
fingerprint, is unique to each person. Citi clients can opt to
enroll by recording their voices, which the bank will use to
generate and store their voice prints for matching subsequent calls
to Citibank. Each voice print will be uniquely tagged and cannot be
reverse engineered once stored.
“The voice biometrics authentication capability underscores
Citi’s focus on technology to better serve our customers. We know
that remembering different PINs and answering multiple questions
can make the process frustrating. With this new capability, we
offer our customers a faster and more secure authentication for a
better customer experience,” said Anand Selva, Asia Pacific Head
for Consumer Banking, Citi.
“Biometrics will play a critical part in the future of banking
and we are excited to be paving the way for Citi globally. Today,
our call centers in Asia Pacific receive about 35 million calls
annually, of which a large portion are manually verified. With
voice biometrics authentication, we will make the verification
process easier, faster, and more secure for clients,” said Rahul
Joshi, Asia Pacific Head for Consumer Banking Operations, Citi.
Asia is an important region for innovation at Citi. Six years
ago the bank launched its new branch design – called Smart Banking
- in Asia for the first time. The Smart Banking concept involves
using technology, architecture and design and new retail channels
to connect customers to their money and provide them with a better
way of banking. Over 200 such branches have since been rolled out
globally since the Asian launch.
About Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn:
www.linkedin.com/company/citi
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version on businesswire.com: http://www.businesswire.com/news/home/20160518006594/en/
Media:CitiJames Griffiths,
852-2868-7668james.a.griffiths@citi.com
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