Your voice will now act as your password to do banking transactions.

ICICI Bank, India’s largest private sector bank, launched a voice recognition service which authenticates customers based on their speech patterns and allows them to execute banking transactions through the bank’s call centre.

“The-first-of-its kind service, it is available to over 33 million customers of its savings account and credit card. With the voice recognition technology in place, customers are no longer required to enter their card numbers, PIN and answer security questions to authenticate themselves. Their voice will now act as the password for banking transactions through the call centre,” ICICI Bank said in a statement.

This will benefit all savings bank and credit card customers.

Chanda Kochhar, MD & CEO, ICICI Bank said, "We have noticed that the customers, especially those who use smart phones, find it difficult to enter the 16-digit card number and the 4-digit PIN with accuracy and at a reasonable speed. We wanted to offer them a secure and hands-free alternative to the traditional on-screen commands on smart phones. The voice recognition service has the potential to increase security and convenience."

Voice recognition technology

The voice recognition technology works on voice prints, which are unique to an individual. It comprises more than 100 characteristics, including voice modulation, speed, accent, and pronunciation, which are impossible to imitate, thereby enhancing security.

The bank stores the customer's unique voice print against his account and matches it whenever he calls from his registered mobile number, offering a seamless experience to the customer.

Among a slew of technology driven initiatives, ICICI Bank has also launched contactless debit and credit cards and ‘Pockets’, a mobile app that serves as its digital bank.

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