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Voice Recognition Banking

The Offering From Icici Bank Enables Hands-Free Banking for Customers

— June 19, 2015 — Business
This bank in Mumbai, India is able to offer hands-free banking thanks to voice recognition technology. In an effort to make banking as easy as possible for its customers, Icici Bank enables them to complete transactions using just their voice, which also acts as their secure password. This follows a recent announcement that their customers can also use their smartphone and Twitter account to transfer funds, check account balances and even top up their phone credit.

To use this hands-free banking service, customers register a voice print with the Icici database. A voice print has more than 100 characteristics, making it impossible to imitate. When they engage in telephone banking, Icici uses voice recognition software to see if it's a match.
Trend Themes
1. Voice Recognition Technology - The use of voice recognition technology in banking enables hands-free transactions and enhances security for customers.
2. Mobile Banking - The integration of smartphone technology allows customers to easily transfer funds, check balances, and top up phone credit using their mobile devices.
3. Biometric Authentication - The adoption of voice print technology creates a highly secure authentication method for banking transactions.
Industry Implications
1. Banking - Banks can leverage voice recognition technology to streamline customer transactions and improve security measures.
2. Technology - The voice recognition industry can expand its applications by partnering with banks to provide secure and convenient authentication solutions.
3. Mobile Communications - Mobile network operators can collaborate with banks to offer seamless mobile banking services, including account balance checks and fund transfers.
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