Voice Commerce, a financial services
group, has developed KYC Secure, a database for mobile phones that
can validate the identity of m-banking customers.
KYC Secure operates on a global
standard for e-money and mobile payment account opening
transactions.
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The UK-based company said that the
platform enables banks to verify a customer’s identity by their
unique voice signature.
The voice signature identification
protects the mobile banking customers from exposure to online,
credit and identity fraud, the company said.
The KYC Secure database combines
VoicePay and Cashflow, payments systems developed by Voice
Commerce, and stores the voice signature once it has been
verified.
Financial institutions using the KYC
Secure database can request an identity check from the KYC Secure
website.
The customer then receives a phone call
on their mobile phone to identify themselves and receives a four
digit number to proive to their bank.
The bank enters these four digits into
the KYC Secure system to triangulate and time-stamp the customer at
a specific location.
The company said that additional
information may also be requested to confirm the customer’s
identity.
Nick Ogden, CEO of Voice Commerce
Group, commented: “KYC Secure offers a highly anticipated,
guaranteed and secure environment where organisations can
collaborate to encourage consumers to use a federated account
system that they alone control.”
