The more customers we speak with about voice biometric identity verification, the more we get the sense that the public has become increasingly comfortable with this exciting technology.
This is great to see, as just a few years ago when voice biometric identity verification was still in its nascent stage, it was being met with a surprising amount of confusion—and even fear—from consumers. Some, for instance, actually thought that biometrics in general could lead to physical harm!
Recent advances in the voice biometrics market, and the proliferation of this now popular technology, have greatly eased consumer concerns. Voice biometric identity verification is now very much in the public eye. And according to a 2015 report, global speech and voice biometrics revenue is expected to reach $5.1 billion by 2024 (it was valued at $249 million just last year!).
Still, myths abound about voice biometrics. Here are some of the most common ones that we receive:
Myth: It’s inconvenient for end users.
Truth: Compared to the number of passwords that most people are required to either write down or memorize, voice biometric identity verification is actually quite easy to use. After all, this solution doesn’t require any memorization. You just have to speak a short phrase into a microphone in order to gain access to the account. Plus, every mobile device comes with a built in microphone so it doesn’t require any extra hardware purchases. Voice biometrics can be easily downloaded and installed onto a device.
Myth: It’s not hack-proof.
Truth: While we can’t say that all types of biometrics offer a strong level of protection, voice biometrics do. That’s because a voice biometric engine will scan a voiceprint for a variety of identifying characteristics—and they all have to be a perfect match in order to grant entry. A voiceprint is much more comprehensive than a fingerprint.
Myth: It’s too expensive to actually obtain.
Truth: Voice biometrics are actually surprisingly affordable. It comes with a low cost of entry, there are no hidden fees, and you’ll ultimately save money by protecting against fraud.