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Barclays will start identifying customers with voice recognition technology this week, slashing the need for customers to answer a series of questions to gain access to their accounts on the telephone.
The move represents the latest step in the industry to abolish passwords, moving to technologies which banks believe are more convenient for customers as well as more secure.
First Direct took a similar step earlier this year, while Lloyds Banking Group has experimented with a system online which can recognise customers' typing patterns to deny fraudsters access to accounts.
Source: The Telegraph
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Barclays to Abolish Passwords for Phone Banking
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Life is to you a dashing and bold adventure.
(Score: 3, Insightful) by Anonymous Coward on Tuesday August 02 2016, @01:24PM
They had better have focused all that money they are saving on dealing with the corner cases, no wants to wait on hold for 10+ minutes for a human just because they have a cold, a lot of background noise, a bad phone connection, are out of breath or are otherwise stressed because they've had to repeat the same damn sentence to the voice recognition system 10 times now. And forget about asking a friend or family member to get on and do something for you because you are in the hospital and can't.
(Score: 0) by Anonymous Coward on Tuesday August 02 2016, @02:17PM
Banks care a lot more about false positives than false negatives.
(Score: 1, Insightful) by Anonymous Coward on Tuesday August 02 2016, @02:26PM
Banks care a lot more about false positives than false negatives.
Banks care a lot more about charing fees than the customers who pay them.
(Score: 4, Funny) by Dr Spin on Tuesday August 02 2016, @05:02PM
Barclays regularly have scandals.
My youngest son is convinced that they actually have a "Scandal deployment department", and the regular stream of scandals enables the in-crowd to buy shares cheaply following a scandal, only to sell them at a considerable profit just before the next one.
Makes as much sense as anything else they do.
Warning: Opening your mouth may invalidate your brain!
(Score: 2) by krishnoid on Tuesday August 02 2016, @06:50PM
My youngest son is convinced that they actually have a "Scandal deployment department", and the regular stream of scandals enables the in-crowd to buy shares cheaply following a scandal, only to sell them at a considerable profit just before the next one.
Sounds like a true frontiersman of the next tinfoil-hat conspiracy-theory generation:
I like the way he thinks. Sign me *up* for his newsletter!
(Score: 3, Touché) by krishnoid on Tuesday August 02 2016, @06:57PM
Or would rather enter information on a keypad than loudly and clearly state all of their personal information in the middle of a cube farm, in the middle of the workday. You know, the people who sit at desks earn money to bank with in the first place.