The $2.8 billion Desert Schools FCU in Phoenix is the first financial institution to use a new voice biometrics solution from Finivation Software of New York City.
The VoiceVerify solution can be used to verify a caller's identity either through an IVR or when working with a live agent, and will be used for high-risk transactions such as wire and ACH transfers and password re-sets, the company and credit union said.
"We plan to use VoiceVerify in several ways – initially for 24/7 password resets for online banking followed by out-of-band authentication for transfers. We also hope to leverage the technology to make it faster for members to authenticate in the contact center while simultaneously reducing the chance for social engineering," said Gary Laieski, CIO for the 342,000-member Desert Schools FCU.
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