Convenience or ease of use, is often the deciding factor in whether or not people will embrace a new product or service, including online banking and e-commerce.
A unique attribute of voice-face biometric recognition is that it is frictionless multi-factor authentication creditial. There are no passwords to remember, no checking the SMSs or emails for OTP. You just interact with the application as if you were speaking to a friend and the multi-factor authentication to continuously verifies your identity in the background without intruding or interfering on the user experience.
The impact of frictionless verification on NPS (Net Promoter Score) can be significant. Voice-face improves customer experience by eliminating the need for customers to provide personal information repeatedly. It is faster, more convenient and more efficient for both customers and the banks that deploy the technology.
It is well proven that a high NPS (Net Promoter Score) delivers many benefits to business. There is a strong correlation between a high Net Promoter Score (NPS) and customer loyalty. When customers have a positive experience they are more likely to remain loyal. Studies show customers who give scores higher than nine are up to six times more likely to remain loyal to the business than detractors scoring six or less. Strong promoters also tend to purchase additional products or services resulting in increased revenue to the business.
Voice-face biometrics set-up a win-win-win for the customer, the business and for fraud prevention. For the customer the experience is effortless and friuctionless. For the business it improve NPS boosting loyalty and with it revenues and for the fraud prevention office, it provides a continuous multi-factor identity authentication environment that enable efficient and effective fraud detection, prevention and tracking.
