If your business is using out-of-band SMS messaging in addition to passwords to secure customer transactions, you’ve officially been warned: SMS two-factor authentication is risky.
Companies have been using SMS to distribute one-time “secret” passcodes for many years. In fact, it’s the most popular anti-fraud method used by businesses today.
That’s all about to change.
Recently the National Institute of Standards and Technology (NIST) issued its latest draft of the Digital Authentication Guideline. The document warns that SMS-based authentication messages are insecure, saying that it is too easy for hackers to intercept or redirect messages. There is also no way to verify that the intended recipient is in possession of the phone.
According to NIST, “OOB [out of band verification] using SMS is deprecated, and will no longer be allowed in future releases of this guidance.”
One suggested alternative is voice biometric identity verification.
People typically think of fingerprints when they hear biometrics, but voice biometrics is a better solution. Fingerprints are more easily compromised by thieves. In contrast, voiceprints must meet a number of specific vocal requirements, including the pitch and tone of a person’s voice. In other words—a voiceprint is extremely difficult to reverse engineer.
Voice biometrics is also easier to administer, requiring only a few seconds of speech into a mobile phone.
VoiceVault’s voice biometric out-of-band authentication solution is the safest alternative available. It uses an out-of-band call to a user-registered phone number, or an Android/iOS smartphone-based app. Only the genuine account holder can complete the transaction by authenticating it with his or her voice. If the rightful owner is not in possession of the phone, the fraudulent transaction will be stopped before it starts.
Switch to voice biometrics now and send a strong message to your customers: Your protection is our priority. To find out more about VoiceVault’s out-of-band authentication solution, click here.
Experience Voice Biometrics with the ViGo Demo App