Enacomm, VoiceVault Launch Voice e-Signature at Money20/20 (Oct. 28, 2015)
Enacomm, a provider of intelligent customer service solutions, and enterprise and mobile voice authentication company VoiceVault have integrated technologies for the provision of Voice e-Signatures. Showcased during Money20/20, and recently implemented for a financial industry giant that manages billions of dollars in assets, the technology enables identity verification via a phone or smart device for obtaining and storing customer signatures, the companies said.
Voice e-Signature technology integrates into the existing IVR system and provides easier enrollment and faster processing, according to an announcement. During the collection of a Voice e-Signature, the IVR states the disclaimer related to the legally binding contract, then asks the customer to proceed with his or her Voice e-Signature. Once the process is complete, the company agent receives an email confirming the transaction details and can listen to the call recording.
“Financial institutions, insurance companies, medical practices and other organizations often require a customer or patient signature acknowledging a legal disclaimer or even a sale,” explained Michael Boukadakis, CEO of Enacomm. “Compared to the traditional process of mailing forms for customers to sign, then filing and managing them once returned, Voice e-Signature is extremely efficient, enabling one-shot telephonic enrollments.”
VoiceVault also announced the release of its VoiceVault Identity Manager (vIM), a voice biometric identity management solution for credentials and password reset requests. By utilizing a simple code and only five seconds of speech for authentication, customers no longer have to wait to speak with a help desk representative to verify identity. As password complexity and expiration requirements continue to become more stringent, particularly for financial institutions and their online tools and mobile apps, end users are more frequently finding themselves locked out of accounts or required to reset their passwords. vIM can be accessed through an Android or iOS mobile app or by calling a dedicated phone number.
A recent study from the University of Alabama at Birmingham suggested that biometrics authentication has security flaws, whereby fraudsters could record voices and use voice-morphing software to access accounts. Julia Webb, vice president of sales and marketing for VoiceVault, tells Paybefore that VoiceVault’s system can detect this type of fraud. “Not only can our replay attack detection algorithm spot recordings, we can also detect if the voice recording has been ‘morphed.’”