Money20/20: VoiceVault, Enacomm Herald Voice e-Signature

speech and voice in articleHaving teamed up this past spring, customer service solutions provider Enacomm and voice biometrics developer VoiceVault have now unveiled a collaborative voice authentication solution aimed at replacing the signature.

The two companies have been showcasing their new Voice e-Signature solution at this week’s Money20/20 conference. It’s designed for easy integration into existing interactive voice response (IVR) systems, and is basically what it sounds like – a voice-based replacement of the traditional signature. Administrators such as banks, hospitals, and insurance firms would simply need to offer a disclaimer to customers via their IVR systems explaining how the voiceprint will be used as a legally binding signature surrogate, and proceed from there accordingly.

The companies are promoting the solution as a more convenient and efficient alternative to the traditional signature, eliminating the need for documents to be sent back and forth and cutting the administrative costs associated with that kind of paperwork.

The traditional signature has long been a vestigial and largely useless component of payment authentication and is already being replace in the world of mCommerce with the fingerprint. Voice-based customer authentication is becoming increasingly prominent in banks’ call centers, so there may be an opening now for companies like VoiceVault and Enacomm to pioneer a new solution that could prove more effective than the traditional pen-on-paper endorsement.