Tuesday - Feb 20, 2018

Citi Introducing Voice Recognition To Prevent Fraud With Phone Banking


Banks spend a lot of money to avoid fraud, as the stakes involved are very high. Banks have a dedicated security team continuously monitoring activity, risks and analyzing heaps of data.

I recently called Citibank to get help with an error while linking my Citi card, after the initial greetings and verification, Citi agent asked me if I wanted to Opt in for the “Voice Rec0gnition” method of authentication.

Having thought for a minute, I decided to opt-in and check how the system works in the future.

 

What are the benefits?

If you decide to opt-in, system would analyze your voice and authenticate and you may be able to talk directly with the agent regarding your concern, as soon as you provide your account number.

How does this work?

Citi has already introduced with technology in other markets already, your voice will be analyzed and compared ith the known sample (previous history). In most cases, the system would authenticate the user and hence eliminate the need for additional questions.

Is this Mandatory?

Not every one is being asked to opt-in, my friends were not asked until today. I am not sure if this is an trial, with select customers?

If you are not sure about the quality of the feature, you could decide to opt-out of voice recognition method of authentication.

Conclusion:

Citi is rolling out the voice recognition method of authentication to simplify the validation process. I was provided an option to opt-in to the “voice recognition” authentication method during a recent phone call.

At this time, It is not mandatory to opt-in to this method of authentication.

 

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Editorial Note: Opinions, analysis and any calculations shown are authors alone. Information in this post is not reviewed, approved and endorsed by any airlines, frequent flyer programs or financial institutions

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