Improvements in Process: Three Solutions for Faster Payments, Better Processing

Posted by Deborah Peace on Jul 17, 2019 9:30:00 AM


Making it to faster and real-time payments poses real-time challenges for financial institutions as they encounter an exciting new reality. But as the ramp-up continues, there comes the first and most important question: Can our systems handle it?

In search of answers, keep in mind that fast payments shouldn’t mean a rush to judgement. Before racing to replace existing systems, financial institutions should look to modernize them as they implement faster payments step by step. For in truth, the industry’s existing payment systems remain perfectly viable, proven and trusted by customers. Processing methods simply need updates to appear more real-time—even as barriers to customer adoption are removed.

Read More

Topics: Payments

Current Processing Methods in the Countdown to Faster Payments

Posted by Deborah Peace on Jun 19, 2019 9:30:00 AM

For the financial services sector, it is perhaps the ultimate and not-so-amusing irony that the drive towards faster payments has seemingly moved at a snail’s pace. There is good news, though, as the Federal Reserve’s Faster Payments Task Force has finally finished its work and issued recommendations after some 120,000 labor hours. Meanwhile, the technology to support and deliver faster payments is reaching critical mass, moving us close to the reality of real-time payments.

Yet is it enough to hope that old systems can somehow keep up? Such a non-starting strategy will leave financial institutions exactly where they were before the payments revolution began—sacrificing faster payments to remain in the past of payments.  

Read More

Topics: Payments

How Does ACH Alert Create and Protect its Voiceprints?

Posted by Peter Soufleris on Jun 12, 2019 9:30:00 AM

If you’ve read the earlier articles in this series on voiceprints, you now have a good understanding about what voiceprints are, how they are created and how secure they are – even if they were to wind their way into the hands of a fraudster. This is all excellent information to know, but to help further put your mind at ease, it’s important to understand the underlying technology ACH Alert uses to create and store voiceprints for its customers.

For its voice biometric processing needs, ACH Alert uses a U.S.-based company who has been in the voice biometric software business for more than 10 years – Voice Biometrics Group (VBG).  There are several features about how VBG does business that are critical to protecting ACH Alert customers:

Read More

Topics: Biometric Authentication

How Secure Are Voiceprints?

Posted by Peter Soufleris on Jun 5, 2019 9:30:00 AM

With the increasing frequency of data breaches and identity theft hitting the headlines, people have become concerned about their personal data being stolen and misused.  And rightly so, as it can often take months and cost thousands of dollars to remediate cases of identity theft. 

This concern is even greater when considering biometric data.  If your user ID and password are stolen, along with credit card data and other personal information, these are painful to have fully replaced or updated.  But it can be done, and you can recover.  However, what happens with biometric data?  If someone steals your fingerprint, or facial scan, or voiceprint – what happens then?

Read More

Topics: Biometric Authentication

What is a Voiceprint and How is it Used?

Posted by Peter Soufleris on May 29, 2019 11:50:00 AM

Before answering these questions, we need to first provide a little background on biometrics.  The term “biometrics” generally refers to the measurement and analysis of unique biological or behavioral characteristics.  The use of biometric technologies is increasingly associated with identity verification, with many companies now using biometrics such as fingerprints, voiceprints, and facial recognition to help confirm the identities of their customers.

So, what exactly is a voiceprint?  A voiceprint is a digital model of the unique vocal characteristics of an individual.  Voiceprints are created by specialized computer programs which process speech samples, typically in WAV format.  The creation of a voiceprint is often referred to as “enrollment” in a biometric system.  There are two general approaches to the creation and use of voiceprints.

Read More

Topics: Biometric Authentication

Subscribe To Our Blog

Recent Posts

Recent White Papers
Download White Paper Layered Security How Much is Enough?
Download White Paper     Corporate Account     Takeover
Download White Paper  The Role of Voice  Biometrics in Your Layered  Security Program