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Barclays to Abolish Passwords for Phone Banking

posted by cmn32480 on Tuesday August 02 2016, @01:10PM   
from the don't-get-a-cold dept.

n1 writes:

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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Original Submission

• Re:False Negatives More Important That Easy Path Re:False Negatives More Important That Easy Path (Score: 1, Insightful) by Anonymous Coward on Tuesday August 02 2016, @02:26PM

  by Anonymous Coward on Tuesday August 02 2016, @02:26PM (#383141)

  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.

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• Re:False Negatives More Important That Easy Path Re:False Negatives More Important That Easy Path (Score: 4, Funny) by Dr Spin on Tuesday August 02 2016, @05:02PM

  by Dr Spin (5239) on Tuesday August 02 2016, @05:02PM (#383201)

  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!

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  • Re:False Negatives More Important That Easy Path (Score: 2) by krishnoid on Tuesday August 02 2016, @06:50PM

    by krishnoid (1156) on Tuesday August 02 2016, @06:50PM (#383251)

    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:

    • Topical issues
    • Large, ethically questionable entities
    • Identification and explanation of suspicious behavioral patterns
    • Original, borderline and (as of yet) hard-evidence-poor hypothesis

    I like the way he thinks. Sign me *up* for his newsletter!

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