Authentication: New Voice Biometric Identification Solution
- Finivation Software has launched a new voice biometric authentication solution to enhance credit union call center security, but also online and mobile banking security.
- VoiceVerify enables identification of the caller when he accesses his bank account, transfers funds or performs other payment or automated password reset operations via phone call.
- According to Finivation, VoiceVerify also complies with the new recommendations of the Federal Financial Institutions Examination Council.
- The Federal Financial Institutions Examination Council insists that controls be reinforced in sensitive operations contexts. On 29 June 2011, this Council issued new measures to help financial institutions meet these standards. These guidelines complement the recommendations issued by the FFIEC in 2005 (Authentication in an Internet Banking Environment).
- The given best practices have essentially been crafted for financial institutions but can also be applied by other (non banking) companies wishing to design and implement an authentication and data storage policy.
- These recommendations remind one of those listed in the ISO 27001 standard on the implementation of an ISMS (Information Security Management System) as they encourage consistent audits and rely on risk management calculations.
- Also, ISO and IEC have published the ISO/IEC 24745:2011, Information technology – Security techniques – Biometric information protection, dedicated to the security of biometric data. This information is considered reliable as it establishes a unique link but it remains vulnerable and risks being illegitimately appropriated by fraudsters. This standard recommends:
- analysis of the threats to and countermeasures inherent in a biometric environment;
- security requirements for secure binding between a biometric and identity references;
- biometric system application models with different scenarios for the storage of biometric references and comparison;
- guidance on the protection of the individual's privacy