Money2020 Asia 2018

Three Takeaways From Money2020 Asia 2018

After a strong showing in the United States and Europe in recent years, one of the world’s premiere FinTech events, Money2020, headed to Singapore last week for Money2020 Asia 2018. In past years, we’ve kept a close watch on the latest happenings from the event, which you can check out here or here.

But what can we expect to come out of this year’s show, where thousands of attendees, vendors and industry experts will connect to explore the latest happenings in the FinTech space?

If you weren’t able to catch a flight to Singapore yourself, don’t worry—we’ve got you covered. Here are the top three stories to come out of this year’s event.

  1. Blockchain advances but cryptocurrency growing pains are far from over.
    No question, there’s a general consensus among Money2020 Asia attendees that blockchain is on the doorstep of revolutionizing FinTech across industries. But interestingly, there’s less certainty in regards to cryptocurrency applications. Consumers have reported widespread identity verification issues at exchanges, and this uncertainty may be starting to take its toll. Ironically, the cryptocurrency market lost $60 billion in value on the last day of the show this year following announced regulatory increases and Google’s advertising ban.
  2. Mobility continues to drive security concerns.
    The global mobile payment market is poised for a $3 trillion valuation by 2023—a clear indication that both businesses and consumers are going to continue leaning heavily on their personal mobile devices for all manner of transactions in the coming years. But security concerns continue to besiege mobile users, driving up interest in biometric solutions like voice-based identity verification.
  3. Artificial intelligence shows signs of life.
    With deep machine learning and artificial intelligence technology taking off, it should come as no surprise that AI left an impression at Money2020. Transaction tracking, identity theft and fraud detection are all among the top applications as platforms become more interoperable.

To stay up to date on the latest industry news or to learn more about how VoiceVault’s voice biometric authentication and identity verification solutions can support your business, click here.

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How Voice Biometrics Can Boost the Mobile Wallet Revolution

We are now witnessing a major transformation in global currency, as consumers are slowly warming up to the idea of using a mobile wallet.

In a recent study of consumers in the U.S., Canada and the U.K, more than half indicated they expect to adopt digital payment systems over the next few years. And many countries, like Denmark, Norway and Sweden, are already well on their way to becoming completely cashless.

Still, though, there are major barriers that are holding back the mobile wallet revolution and causing consumers to stick with their existing payment preferences.

Concerns about fraud, for instance, are very high among consumers. In another study, 19 percent of consumers indicated they are concerned that unauthorized transactions may occur after using a mobile phone for payment. And 21 percent prefer not to register payment credentials to their mobile phone.

In light of this, business leaders are highly encouraged to bring an authentication mindset to the upcoming Money20/20 conference.

Many companies at this conference will be offering cutting-edge technologies that can boost digital payment security and win over customers who may be skeptical about change. VoiceVault, for instance, will be on hand at Money20/20 (booth #737) to showcase its industry-leading voice biometric identity verification technology.

Voice biometric identity verification offers two major features that consumers want to see in their mobile payment systems: Security, and convenience.

Voice biometrics are one of the most secure forms of biometric authentication, as they cannot easily be spoofed. A voiceprint has many unique identifying characteristics, and all of them must be a perfect match in order to grant an end user access into his or her account.

What’s more, the process only takes a few seconds and does not require the user to remember a password, personal identification number (PIN) or answers to security questions. All you need is your voice, and a device with a microphone. Using voice biometrics, authenticating a payment is every bit as easy as signing your name on a receipt.

To learn more about voice biometric identity verification, click here or visit our Booth # 737 at Money20/20.

Money2020 2017

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In Case You Missed It: BioConnect Talks Voice Biometrics at Money20/20

In a recent post, we explained how identity management provider BioConnect is using VoiceVault’s voice biometric identity verification software to enhance its universal identity management platform.

BioConnect users can now log into multiple accounts using just their voice — providing an easy, and convenient, authentication experience that is free of passwords and security questions.

Last week, BioConnect showcased their solution during a demonstration at Money20/20, one of the biggest financial technology events of the year.

BioConnect VP of Strategic Marketing & Global Alliances Bianca Lopes was joined on stage by her client, whose company is directly benefiting from their product. Attendees were able to see firsthand what a voice biometric-based login looks like.

Lopes also spoke about the need for identity management solutions that are agnostic of modality, device and identity. She explained how consumers today want to be able to authenticate using any device and modality. So merchants, banks, fintech startups and gateway companies need to be able to offer seamless authentication across multiple channels.

We recommend that you watch the brief presentation below, as it will give you a better overview of how companies are using voice biometrics to improve the login experience.

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Use Voice Biometrics To Protect Mobile Payments

Mobile payments now account for 14 percent of transactions among merchants who accept them. However, they also account for 21 percent of fraud cases.

Indeed, mobile fraud is a major challenge that companies need to overcome on their mobile applications. It’s just not easy to tell, though, whether a customer is in fact who he or she claims to be when making a transaction.

Fortunately, there is a readily-available solution that can help: Voice biometric identity verification.

Voice biometric authentication allows an end user to verify his or her identity by simply speaking a short phrase into the microphone of a mobile device. It’s a painless process that only takes about five seconds. And it’s much more secure than any other type of authentication solution on the market, as a voiceprint cannot be easily compromised.

Voice biometric authentication is great for a customer, as it provides peace of mind for sensitive payment information. And it’s great for a merchant, as it can help reduce costly fraud instances.

Here at VoiceVault, we offer a mobile payments authentication solution that can be easily added onto your existing application or platform. Your company can use our code to enhance its existing solution, without having to undergo a major software overhaul.

One company that recently integrated our technology is BioConnect, which offers a universal Identity Platform. BioConnect users can now log into their accounts with their own voice. They simply have to respond to a short visual or audio prompt.

“Ease of use, security and fraud reduction are major drivers as to why we’re seeing changes to identity verification within every day, run of the mill banking applications,” stated Bianca Lopes, Vice President of Strategic Marketing and Global Alliances for BioConnect. “VoiceVault has a brilliant track record and a sound voice recognition technology that will provide enterprise clients with ease of use, scalability and ultimately, greater choice by being a part of the BioConnect Identity Platform.”

Are you at Money 20/20 in Las Vegas? If so, make sure to stop by and check out BioConnect’s use case demonstration, which will take place during the Demos & Announcements track (October 25 at 5:30).

VoiceVault will also be on hand at Money 20/20 at booth 1433.

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SMBs Heading to Money20/20: Got Mobile ID Verification?

We’re just a couple weeks away from the annual Money20/20 conference in Las Vegas, the most important event of the year for the global payments and financial services industries. This event will bring together over 10,000 attendees from more than 75 countries, making it a major focal point for the financial ecosystem.

What’s great about Money20/20 is that it draws businesses of all sizes as opposed to just large enterprises. In fact, almost half of all organizations at the conference will be startups and small companies ranging from mobile commerce providers to payments and financial services vendors to investment and consulting services.

When we saw this figure, we couldn’t help but wonder just how many of these young businesses will grow into large financial powerhouses. Statistically speaking, not many companies will make it. Ninety percent of all startups, after all, will fail before they become large enterprises. And the risks are especially significant in the tumultuous financial landscape, as just one major data breach could be enough to lead to major financial consequences, and it could also spook customers away.

So, if you’re a small- to medium-sized business heading to Money20/20, and your customers regularly conduct business over a mobile application, it’s imperative that you don’t leave the event without a robust mobile identity verification solution which can keep your customers’ accounts safe.

VoiceVault is one vendor you will find at Money20/20 that can help fulfill your business’s need for mobile identity verification. Its mobile voice biometric authentication solution, ViGo, will allow your customers to log into mobile accounts using their own unique voiceprints. With the help of VoiceVault, your business can become less reliant on outdated password and username logins.

Be sure to stop by booth 2219 to meet the VoiceVault team and learn more about how voice biometrics can keep your customers’ identities safe!

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Top Take-aways From VoiceVault at SpeechTEK 2015

In case you missed it last month, here’s our rundown of the top take-aways gleaned from a presentation by our EVP of Sales and Marketing Julia Webb at the 20th annual SpeechTEK Customer Interactions Event in New York City. VoiceVault was on hand at SpeechTEK—one of the premier conferences in the speech technology industry—to deliver information on mobile payments in the voice biometric identity verification industry.

Here’s a rundown of the top take-aways:

Customers are gaining confidence in voice biometrics: The VoiceVault team came to SpeechTEK ready to answer questions about the accuracy of voice biometrics and how the technology works. What we found, surprisingly, is that not one question was asked about these issues. In comparison to recent years, this shows that the general public is well-aware of the basics of voice biometrics, which is fantastic to see.

Instead, this year, questions were heavily focused on the following points:

Security: This remains a big hurdle that the voice biometric industry needs to overcome, and rightfully so, as fears of hacking and mobile device theft increase with every new threat that is discovered online. What’s important to remember is that voice biometric authentication is one of the most secure biometrics solutions available because it analyzes multiple parts of a human voiceprint, such as the dimensions of a person’s nasal tract and the individual’s tone of voice. The decision to grant access is based on a variety of metrics, and voice biometrics can be fortified with multifactor authentication as well.

Digits versus phrases: There is still some confusion about what are the most effective recitations for securely logging into a mobile device: digits or phrases. The answer is that it makes absolutely no difference. When using VoiceVault’s ViGo solution, for instance, what matters is not what you say but how you say it. For this reason, users don’t generate their own digits or phrases; rather they select them from a list.

Implementation: Many people are still struggling to understand how voice biometric identity verification can be implemented and shared with end users across the enterprise. It’s simple: ViGo is a cloud-based, out-of-box product that is scalable and secure. It doesn’t require any configuration or even any setup. ViGo can be easily integrated across any platform (Apple and Android included) by using the cloud.

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VoiceVault Is Heading To The Big Apple For VBC New York 2015

Now that word is spreading about the benefits of voice biometric identity verification and the mainstream usage of the technology is rapidly accelerating, a growing number of executive decision makers want to know: What is the best way to integrate the technology across the enterprise?

Here at VoiceVault, we’re asked this question a lot and our response is that voice biometric solutions are best used as part of a multifactor authentication strategy due to their ability to supplement existing security technologies like passwords, PINS and other biometrics solutions (i.e. facial recognition software and fingerprint scanners). Most enterprises experience the best results when incorporating the technology slowly, a few users at a time. By using this type of strategy, end users can migrate to voice biometrics at their own pace rather than having to abruptly switch.

If you’re looking for real world examples of how business leaders are incorporating voice biometrics into to their enterprises, join VoiceVault at Opus Research’s upcoming VBC New York 2015 Conference, May 4 to 5 at W New York Union Square. This premier conference will bring together a variety of business leaders and security professionals, with the intention of sharing use cases, as well as tips and tricks for maximizing returns from voice biometrics solutions in mobile and enterprise settings.

Attendees at VBC New York 2015 should be sure to join VoiceVault’s VP of Sales and Marketing Julia Webb on May 4 at 3:45 p.m, for a panel discussion with solution provider executives. The panel will discuss the advantages of multifactor authentication as well as critical authentication factors to pay attention to.

Click here to register for the event today. We hope to see you in New York City!


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Voice Biometrics as a Secure Solution for the Payments Industry to be Highlighted at Payments 2015

If there’s one topic on just about every professional’s mind in the U.S. payments industry these days, it’s data security. So when the payments industry heads south to New Orleans for the Payments 2015 Conference, April 19 to 22, the majority of participants will be on the lookout for next-generation technologies capable of ensuring strong end-user authentication.

VoiceVault is excited to be on hand at Payments 2015 to showcase how voice biometrics could be a game-changing technology for businesses in this space. Capable of authenticating end users across multiple areas within the enterprise—from the call center to mobile applications—voice biometrics is simple to install and popular among end users due its convenience and easy setup.

In addition to exhibiting at the event, on Tuesday, April 21, VoiceVault will take part in a special panel with Enacomm, Say Pay Technologies and Opus Research, moderated by our Vice President of Sales and Marketing Julia Webb. The panel, titled “Voice Biometrics in Payments: When, Where and How,” will highlight three specific use cases of voice biometrics in the payments industry. This interactive session will use multimedia to start a conversation about how voice biometrics is helping companies improve the customer experience while also helping to reduce fraud and keep customer information safe.

Will you be heading to the Big Easy to take part in Payments 2015? If so, make sure to look for VoiceVault’s special demonstration on Tuesday, April 21, from 10:15 a.m. to 10:30 a.m. at the Payments 3D Innovation Hub.


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October Is National Cyber Security Awareness Month

2014 has been replete with cybercrime, as several big name brands—including the Home Depot, Target, Goodwill, U.P.S. and P.F. Chang’s, among others—have all fallen victim to massive data breaches. And the year is not yet over, leaving digital security experts questioning how many more public data breaches will arise before year’s end.

This makes October, which is National Cyber Security Awareness Month, an important time for business leaders to reflect on the recent volume of public data breaches and strive to reduce more from occurring. It’s also budget season, so a good time to consider corporate funding of security strategies for 2015. The volume and severity of mobile threats are on the rise, and businesses that don’t act now to take appropriate cybersecurity measures stand a good chance of getting hit with a data breach in the future.

So, this begs the question: What is your business doing to ensure its mobile endpoints are secure? Voice biometric identity verification could be the solution you need to protect your digital assets and mitigate the likelihood of a data breach occurring through an employee’s smartphone or tablet.

Voice biometrics works by requiring users to submit a unique voiceprint to gain access to an operating system or application. This technology works in conjunction with other multifactor security elements like passwords, PINS and security questions. With a robust voice biometric identity verification solution, unauthorized third-party access into a device is very difficult.

Click here to learn more about how VoiceVault, a leading provider of voice biometric identity verification, can help your business stay safe on the Web.


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Key Take-aways From VBC SF 2014

The need for voice biometrics has reached a critical stage, as high-profile security attacks are intensifying in volume and severity. Business leaders everywhere are now looking for strong authentication solutions to reduce fraud and restore consumer confidence in the ability of private organizations to safeguard sensitive information. This theme took center stage at the recent VBC SF 2014 (Voice Biometrics Conference 2014) at San Francisco’s Fairmont Hotel, an information-filled two-day event that addressed the latest happenings in the voice biometrics industry. Here are some of the key take-aways:

The future looks bright for voice biometrics: Senior Analyst and Founder of Opus Research Dan Miller kicked things off by taking attendees “beyond the basics” of voice biometrics, diving into the tremendous security impact that voice biometrics are now creating. …. Miller outlined the exciting potential for the industry, highlighting how eight out of 10 consumers now view voice biometrics positively. Miller also spoke about how the industry will reach $750 million by 2015 due to licenses, professional services and transactions.

According to Miller, phone-based threats are growing in severity but voice biometrics is more than capable of stopping them. Technology has reached the tipping point for strong identification, authentication and authorization solutions.

Key take-away: Have a BYOD identity problem in your enterprise? Then voice biometrics is one of the best ways to ensure mobile identity verification for employees.

Banks are using voice biometrics: Right now Mexico’s Banco Santander is using voice recognition software to authenticate more than 3 million monthly calls in its two contact centers. Voice biometrics helps the bank verify sales, collections and general customer service. As Banco Santander’s conference presentation demonstrated, banks are looking for voice solutions that are affordable, customer-friendly, efficient and secure.

Key take-away: Banco Santander customers are ecstatic because they do not have to remember PINs. Voice biometrics makes it easy to verify a customer’s identity.

Biometrics are still evolving: VoiceVault Executive Vice President of U.S. Sales and Marketing Julia Webb took part in a key executive panel titled “Where We’re At and Where We’re Going.” The panel highlighted how biometrics has evolved from a basic technology into one of the brightest and most promising solutions for securing home electronics, contact centers, mobile commerce and automotive marketplaces—and it’s still evolving.

Key take-away: New uses are being thought of for biometrics every day. As biometrics become more popular, they will continue to revolutionize the way that consumers interact with mobile devices.

For a complete rundown of VBC SF 2014, click here.


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