Voice Commerce, a financial services group, has launched KYC (Know Your Customer) Secure, a federated database developed to secure and authenticate a consumer’s identity over their mobile phone. The first regulated mobile identity database of its kind, according to the company, KYC Secure has been designed to support a global standard for e-money and mobile payment account opening procedures. It provides any company or financial institution with the means to verify a customer’s identity based on their unique biometric Voice Signature in order to significantly reduce exposure to online, credit and identity fraud.
Nick Ogden, chief executive officer (CEO) of Voice Commerce Group, said: “The development of security and authentication services over the internet has seen a slow evolution and today many people are still exposed to card fraud and identity theft. To try and prevent the same issues from occurring for mobile and potential e-money users, where some five billion consumers are already looking to tap into the m-commerce market place, we needed to think outside the box and create a whole new system of identity verification and authentication. Having been the first to guarantee internet transactions against fraud, we realised the need for security and authenticity in the mobile world was a significant barrier to growth.”
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