Silicon Valley voice biometrics developer SayPay Technologies has been named one of the top three startups of the UBS Future of Finance Challenge.
The inaugural event kicked off the annual competition in Singapore at the start of this month, and saw 15 competitors drawn from a pool of 620 applicants. SayPay executives pitched their technology to a panel of executives with UBS, a Switzerland-based financial services company.
They were evidently impressed with SayPay’s technology, which combines voice and speech recognition with tokenization to create a three-factor authentication system. Essentially, the system generated a one-time password for each authentication event; that SayPay Voice Token is then read aloud into the user’s smartphone for biometric verification.
The technology was recently integrated into VoiceVault’s ViGo platform, and could enjoy further popularity stemming from its success in UBS’s competition, the final round of which will take place in Zurich on December 10th of this year.