“Called Voice ID, the system allows ANZ customers to make mobile payments and money transfers in excess of $1,000 by authenticating their voice biometrics…”
Australia’s ANZ bank become the first in the country to launch a voice verification system for mobile transactions exceeding $1,000.
The plan was first unveiled this spring, when ANZ announced it would work with biometrics specialist Nuance Communications to build the mobile technology. A pilot project was undertaken shortly thereafter, and the bank has now launched the functionality on its Grow by ANZ app.
Called Voice ID, the system allows ANZ customers to make mobile payments and money transfers in excess of $1,000 by authenticating their voice biometrics, a benefit that could be particularly appreciated by individuals running small businesses. And according to a statement from ANZ, the system will later “be rolled out to other digital channels across the bank,” suggesting that it may come online banking via desktop and laptop, as well.
ANZ has proven to be an early adopter of new mobile technologies, with the bank having been an early supporter of Apple Pay in Australia when its peers took aggressive measures to resist the mobile payments platform. Now, its support for voice recognition should help to further burnish its FinTech credentials.
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