Product Type: Market Research Report
Published by: Datamonitor
Published: June 2009
Product Code: R313-52385Description Introduction
The market for voice biometrics has had, to say the least, its ups and its downs throughout the first decade of the millennium. And yet, a recent spike in activity indicates that this technology is approaching a watershed. The barriers to adaption have certainly changed such that voice biometrics has the potential to significantly change the way in which enterprises authenticate their callers.
Scope- Traditional authenticators are ineffective security measures and hassles for customers to remember;
- An overview of voice biometric technologies and ways in which the technology can be applied in the enterprise
- A competitive landscape differentiating the providers of voice biometric technology and solutions
- Case studies comparing and contrasting various voice biometric solution deployments
Highlights
The factor that causes the greatest deal of concern within an enterprise is authentication, or more specifically, how to do it without irritating the customer but without compromising on security. The traditional methods include verification through personal identification numbers (PINs) or passwords. These are easily guessed.
The pilots at Charles Schwab and the Home Shopping Network never made it into production. Yet, analysts and vendors anticipated the technology would proliferate in the enterprise space. In 2006, the Dutch bank ABN Amro initiated a pilot voice biometric solution for customers making balance inquiries, transfers, and investment orders.
Enterprisesparticularly those in financial servicesare loathe to reveal their technology investments publically. Voice biometrics is an exception. Enterprises should push voice biometrics to their customers as a major customer service differentiator that is both convenient and makes existing forms of authentication even more robust.
Reasons to Purchase- Understand key market trends and drivers shaping voice biometric solutions in the enterprise.
- Become familiar with key vendor messages and differentiators across major vendors in the market.
- Learn of market sizing and forecasts for spending in voice picking solutions from 2008 to 2014.
Table of Contents - Overview
- Catalyst
- Summary
- Key Messages
- Customer interactions are becoming increasingly complex
- Voice biometrics technology is mature enough for deployment in customer-facing solutions
- Improving customer service is currently the main driver for enterprise investment
- The labyrinthine competitive landscape confuses enterprise customers
- Successful deployment of voice biometrics hinges on education
- Table of Contents
- Table of figures
- Table of tables
- Market Opportunity
- Multiple identity disorder
- Authenticating identities
- Security and service for multiple identities
- Modes of authentication
- A brief overview of biometric technologies
- Defining voice biometrics and voice authentication
- Voice biometric solution taxonomy
- Employee-facing applications
- Password reset
- Employee check-in (employee time and attendance)
- Consumer-facing applications
- Voice signature
- Fraudster identification
- Account access
- Government applications
- Types of voice biometrics technology
- Text-dependent voice biometrics
- Advantages
- Disadvantages
- Text-independent voice biometrics
- Advantages
- Disadvantages
- Text-prompted
- Advantages
- Disadvantages
- Assessing the efficacy of voice biometrics technology
- Voice biometrics: a diverse set of enterprise benefits
- Compliance drives need for better record keeping and security
- The voice channel is the weakest point of entry
- Enterprises prioritize customer retention through better service
- Cost savings by reducing call handling times and enhancing agent productivity
- Voice biometrics in the present and the future
- New deployment models spur interest
- Financial services institutions are more willing to deploy as SaaS
- Scenario 1: 2011 will be the watershed for voice biometrics
- A roll-out by a large customer catalyzes growth
- Scenario 2: deployments in large-scale enterprises never leave pilot
- Scenario 3 (the voice biometrics fail scenario): consumers refuse to accept the technology
- Technology Focus
- How secure is voice biometrics?
- Countermeasures against attacks
- Crossing channels and background noise
- Technical limitations
- Conclusion
- Customer Impact
- Developing a voice biometric solution
- Identify specific business goals
- Designing the system to meet business goals
- Recording regulations
- Fallback strategies
- Testing, tuning and calibration
- Some final dos and don'ts
- Case study 1 (pilot)
- Top-five bank deploys Convergys's On-Demand Voice Authentication, powered by TradeHarbor's Voice Signature ServiceSM
- Case study 2
- Bell Canada
- Case study 3
- National Australia Bank
- Case study 4
- TD Waterhouse
- Competitive Landscape
- The current landscape
- Who's who and who does what
- Providers of voice biometrics technology and/or services
- Agnitio
- Product overview
- Key strengths
- IBM
- Product overview
- Key strengths
- Nuance
- Product overview
- Key strengths
- PerSay
- Product overview
- Key strengths
- Salmat VeCommerce
- Product overview
- Key strengths
- TradeHarbor
- Product overview
- Key strengths
- VoiceVault
- Product overview
- Key strengths
- Go to Market
- Recommendations for enterprises
- Implement an internal pilot to educate employees
- Publicize the solution to educate the general public and push enrollments
- Use the internet and social networking sites to drive awareness and listen to customer feedback
- Voice biometrics is a marketing opportunity
- Keep testing the solution
- Recommendations for vendors
- Push the solutions, not the technology
- Partner with consulting firms and systems integrators
- Offer a range of deployment models
- Seamless migration strategy out of the recession
- Flexible pricing strategies
- Case studies are key to market presence
- APPENDIX
- Definitions
- Methodology
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
- List of Tables
- Table 1: Deployment model splits for voice biometrics
- Table 2: Global spending on voice biometric solutions for scenario 1
- Table 3: Global spending on voice biometric solutions for scenario 2
- List of Figures
- Figure 1: Digital identities in an entity
- Figure 2: Speaker identification
- Figure 3: Voice verification
- Figure 4: Equal error rate
- Figure 5: Threshold of voice biometrics
- Figure 6: Stages of customer opt-outs
- Figure 7: Market trajectory of voice biometrics
- Figure 8: Deployment model splits for voice biometrics
- Figure 9: Global spending on voice biometric solutions for scenario 1
- Figure 10: Global spending on voice biometric solutions for scenario 2
- Figure 11: Anatomy of the voiceprint
- Figure 12: Convergys/TradeHarbor solution call flow
- Figure 13: Bell Canada call flow
- Figure 14: NAB call flow
- Figure 15: TD Waterhouse call flow
- Figure 16: Voice biometrics vendor snapshot
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