Voice Commerce rolls out KYC Secure application

Designed to support a global standard for e-money and mobile payment account opening procedures, the KYC Secure application is expected to enable financial institutions to prevent online, credit and identity fraud by providing the latter with the ability to verify their customers’ identity based on their unique biometric Voice Signature. KYC Secure incorporates Voice Commerce’s regulated VoicePay and Cashflows payment systems, which are set to ensure that all Voice Signatures are verified before being stored in the secure VoiceTransact database.

How it works

KYC Secure allows organisations requesting an identity check from a potential customer to ask for the individual’s mobile phone number which the latter has to enter into the KYC Secure website. Further on, customers, who previously registered to use the service, will receive a mobile phone call, where they will be asked to identify themselves using their unique biometric Voice Signature. If the applicants are confirmed using the two factor authentication, they will be required to pass a four digit number provided to them back to the organisation. Then, the number will be entered into the KYC Secure system by the organisation and will be used to locate the person in question. Additional authenticated information can also be requested before confirmation of the individual’s identity is achieved.