PHOENIX – Desert Schools FCU will be the first financial institution to implement a new solution by Finivation Software that is designed to help quickly and cost-effectively verify a person’s identity remotely though voice biometrics.
Finivation’s VoiceVerify helps organizations verify a person’s identity before they are granted access to sensitive information or allowed to conduct sensitive transactions, such as a wire transfer, external funds transfer or a password change.
“We plan to use VoiceVerify in several ways,” said Gary Laieski, CIO for the $3 billion credit union, “Initially for 24/7 password resets for online banking, followed by out-of-band authentication for transfers. We also hope to leverage the technology to make it faster for members to authenticate in the contact center while simultaneously reducing the chance for social engineering, which members will certainly appreciate.”
For the end user, Desert Schools said VoiceVerify allows members to quickly confirm their identity so they can access information or conduct their requested transaction as soon as possible. For credit unions and other organizations, Finivation Software said VoiceVerify can help reduce fraud, decrease operating costs (in reduced call time), and increase member satisfaction.
