IBK, Korea's First Voice Authentication Service... "Done in 15 Seconds of Call"

[Asia Economy Reporter Kim Min-young] IBK Industrial Bank announced on the 31st that it will be the first in Korea to introduce voice identification (Voice ID) service.

According to IBK Industrial Bank, this technology is an advancement beyond biometric authentication methods such as fingerprint and iris recognition. It identifies customers using information compiled from over 100 unique voice characteristics of an individual, which is then utilized for consultations and financial transactions. The company explained that it can even distinguish the voices of identical twins and siblings.

IBK Industrial Bank will implement this service at its customer center and start offering it from the 5th. When customers provide voice information during calls with agents, the bank completes identity verification within 15 seconds from the next call using the collected data.

Through a thorough verification process, the bank enhanced security compared to authentication methods using facial recognition or fingerprints, and by eliminating procedures such as password input for identity verification, the average call time was reduced by more than 11 seconds per call, the bank stated.

An IBK Industrial Bank official said, “Voice identification will provide practical assistance to elderly customers and others who find it difficult to use untact services, and IBK Industrial Bank plans to expand financial services considerate of digitally marginalized groups in the future.”