Fintelle adds voice-based authentication and liveness detection services to its technology stack

Fintelle, the financial intelligence brand of AuthBridge, announced the addition  of liveness detection and voice-based authentication services to its technology suite. With the new additions  to its stack, Fintelle aims to sharpen its authentication services by adding more AI-based solutions that  focus on user experience.

AuthBridge has delivered authentication services over the years. With BFSI-focused digital solutions  covering the entire customer lifecycle and biometric authentication becoming more relevant across sectors, the company is continuously innovating and investing in cutting-edge authentication technology and  alternate data services. According to a report by Global Market Insights, Inc., the biometrics market is  projected to surpass USD 45 billion by 2027. Set against this background, the addition of ‘Biometric  Authentication’ will strengthen AuthBridge’s position as a leading service provider across sectors.

  • Liveness detection by Fintelle validates that the person in front of the camera exists in real with the  help of a simple selfie-match, becoming a valuable tool to prevent identity frauds, and spoofing  attacks. The entire process takes less than a second and is supported by all smartphones and  webcams. No dependency on active liveness ensures that this solution is accessible in areas with  low bandwidth or connectivity, including most tier 2 cities, making it a perfect addition to the financial  inclusion suite of BFSI players.

  • Fintelle’s voice authentication technology is universally compatible with all types of mobile devices,  and its application is not dependent on text or an internet connection, making it accessible in rural  areas, tier 2 and 3 cities, and for people with special needs. The technology is language  independent and has a response time of milliseconds.

Commenting on the development, Pratyush Chandramadhur, Chief Business Officer, Fintelle, said,  “The financial institutions have been constantly evolving their business model due to a competitive environment and changes in the regulatory framework. Pandemic has brought further focus on digital  transformation and accelerated the process of adopting technology. Biometric authentication is becoming  very relevant in the Digital lending ecosystem as this can be used during contactless onboarding,  underwriting and for business intelligence. This technology collects a set of unique biometric data of each  person to identify, verify and authenticate the person.”

Expanding on the same, Pratyush said, “In the current environment, technology must be built on pillars  of inclusion—geographical, economic or others—for it to be future-proof. Our biometric authentication,  especially voice biometric verification, will help financial services create impact in the new-to-credit and  first-time buyer segment as this doesn’t require sophisticated device-specific fingerprints and can work with  low-end devices also. This technology can be used during onboarding and for business intelligence post onboarding.”

Fintelle’s liveness detection technology, based on deep neural networks, is not only more secure than  pin/password-based verification but is also an improvement on most face match solutions in the market  today that fail to address advancements in digital imaging solutions used for identity thefts. This is  interesting as about 61% of breaches in 2020 involved credentials. This includes passwords stolen through  email account compromises and other forms of social engineering attacks (Source: Verizon).

Both liveness detection and voice biometric verification technology are available to clients across Banking,  Insurance, NBFCs, and E-commerce as separate APIs as well as part of a multi-model biometric verification  solution. A multi-model verification system overcomes the shortcoming of two-factor authentication that  adds to the friction of users by making them go through extra steps during their onboarding journey.

Fintelle’s voice-based verification technology is being introduced as the future of authentication as ease of-use, accessibility and inclusion are at the foundation of its design.

Source : CXO Outlook

Switch to award-winning verification technology.