Press release from Business Wire
With Voice Biometrics from Nuance, Banco Santander México Customers Say “Goodbye” to PINs and Passwords, and “Hello” to a Better Banking Experience
<p class='bwalignc'> <i><b>Over 1.7M Santander Customers Simply Use Their Voice to Gain Access to Their Accounts</b></i> </p>
Wednesday, May 14, 2014
With Voice Biometrics from Nuance, Banco Santander México Customers Say “Goodbye” to PINs and Passwords, and “Hello” to a Better Banking Experience08:00 EDT Wednesday, May 14, 2014
BURLINGTON, Mass. (Business Wire) -- Nuance Communications, Inc. (NASDAQ: NUAN) today announced that Banco Santander México has deployed Nuance's Vocal Password voice biometrics solution to replace PINs, passwords, and security questions in their automated phone system. Nuance's voice biometrics solution is being used to securely and automatically confirm the identity of Santander customers – using just the sound of their voice. This is the first such customer-facing voice biometrics application in México.
To see how voice biometrics can reinvent a customer experience, go here.
Santander, one of the top five banks in México, has launched Nuance's VocalPassword solution so that customers who call in to the bank's phone system can simply speak to be authenticated, making the banking-by-phone process quick, secure, and convenient. Until very recently, Banco Santander México's customers needed to remember passwords and PINs and often were inconvenienced to recall answers to security challenge questions in order to gain access to their accounts. Now, customers simply speak the phrase “At Banco Santander, my voice is my password” to be authenticated by their unique voiceprint when they call into Santander's interactive voice response (IVR) phone system. Since the introduction of Nuance VocalPassword at Banco Santander México, more than 1.7M customers have enrolled to benefit from the improved banking experience, and authentication success rates have doubled. Efforts to enroll a larger base of Santander's customers continue.
Data collected following Santander's deployment of voice biometrics shows that a majority of customers are pleased with the new voice biometrics authentication process. Most customers report finding voice biometrics both easier and more secure than PIN-based authentication, and would recommending the use of voice biometrics over PINs.
“As the first bank in México to deploy a voice biometrics solution in this way, we are able to offer our customers the exceptional experience that they deserve. The ability for customers to use their voice to gain access to their accounts is an easy and natural process, allowing the first point of contact with our bank to be enjoyable and hassle-free,” said José Ignacio Zorrilla, Executive Director for Multichannel, Banco Santander México.
Recent surveys have shown that 85% of people are dissatisfied with current authentication methods, which typically require remembering multiple PINs, passwords, and security questions. Racing to address this consumer outcry for a more natural authentication process, organizations around the globe, such as Banco Santander México, are turning to Nuance voice biometrics to create an effortless and engaging experience from the customer's first point of contact. In fact, data from Opus Research shows that, from 2011 to 2012, spending on voice biometric solutions for authentication grew by 74.2% and is on target to grow at a rate of 35% (CAGR) over the next five years.
“With voice biometrics, banks have a real opportunity to change their customer experience for the better, while at the same time improving security,” said Robert Weideman, executive vice president and general manager for the Enterprise Division of Nuance. “Our voice biometrics technology offers a dependable solution for companies like Santander to improve the overall experience for the consumer by allowing them to use their voice as a passphrase with the added benefit of proven security”
During this week's Opus Research Voice Biometrics Conference in San Francisco, attendees will learn more about Nuance's voice biometrics solutions and will hear first-hand from customers who are using voice biometrics to improve their customer service, including Banco Santander México and US Bank. Nuance voice biometrics technology leads the industry, with over 40 million voiceprints deployed by its customers, representing over 80% of the commercial market. (Opus Research: Research Report: Voice Biometrics Vendor Survey and “IntelliView” 2013, July 2013). Large organizations the world over have leveraged Nuance voice biometrics technology to speed account access for their customers, automate fraud detection for their contact centers and even automate password reset processes for employees.
For media: To make an appointment to speak with an executive from Nuance, please contact Casey Bush/Lora Friedrichsen at 949-608-0276 or Erica Hill at 781-888-5518.
About Nuance Communications, Inc.
Nuance Communications, Inc. (NASDAQ : NUAN) is a leading provider of voice and language solutions for businesses and consumers around the world. Its technologies, applications and services make the user experience more compelling by transforming the way people interact with devices and systems. Every day, millions of users and thousands of businesses experience Nuance's proven applications. For more information, please visit: www.nuance.com.
Nuance and the Nuance logo are trademarks or registered trademarks of Nuance Communications, Inc. or its subsidiaries in the United States of America and/or other countries. All other company names or product names may be the trademarks of their respective owners.
Nuance Communications, Inc.
Erica Hill, 781-888-5518
Global Results Communications
Casey Bush/Lora Friedrichsen, 949-608-0276
Banco Santander México
Gamal Durán, +52 55 5257 8124.