Voice Biometric Identity Verification Allows Organizations to Eliminate the Time-Consuming and Expensive Collection of Ink-Based Signatures for Authentication
LAS VEGAS, NV / ACCESSWIRE / October 26, 2015 / Enacomm, Inc. a leading provider of intelligent customer interactions, and VoiceVault, a leading provider of enterprise and mobile voice authentication, have integrated technologies and expertise for the provision of Voice e-Signatures. Showcased during Money20/20, and recently implemented for a financial industry giant that manages billions of dollars in assets, the technology enables identity verification via a phone or smart device for obtaining and storing customer signatures.
Easily integrating into the existing Interactive Voice Response (IVR) system, Voice e-Signature technology improves the overall customer experience by allowing companies to more efficiently serve customers, with easier enrollment and faster processing. The technology also significantly cuts printing and mailing costs - in fact, a smaller firm with 500 clients may spend more than $28,000 per year managing paper, according to Thomson Reuters.
During the collection of a Voice e-Signature, the IVR states the disclaimer related to the legally binding contract, then asks the customer to proceed with his or her Voice e-Signature. Once the quick process is complete, the company agent receives an email confirming the transaction details and can listen to the call recording.
"Financial institutions, insurance companies, medical practices and other organizations often require a customer or patient signature acknowledging a legal disclaimer or even a sale," explained Michael Boukadakis, CEO of Enacomm. "Compared to the traditional process of mailing forms for customers to sign, then filing and managing them once returned, Voice e-Signature is extremely efficient, enabling one-shot telephonic enrollments."
Boukadakis added, "Voiceprint biometrics, versus static digital or analog recordings, ensures a higher level of security and is a sounder defense in the case of a legal dispute."
Voice e-Signatures eliminate the risk of documents being lost, stolen or compromised during a paper-based authentication process. They are considered legally-binding under the American Bar Association's test for a legally-binding signature, US E-Sign Act, HIPAA / CMS, FDA 21 CFR 11 regulations, and EU Directive 1993/93/EC.
"Voice e-Signature offers an easier, safer and more affordable way for organizations to collect customer or patient consent forms," commented Julia Webb, Vice President of Sales & Marketing for VoiceVault. "By implementing this technology, companies evolve their process, secure operations and embrace the future."
For updates on Enacomm's and VoiceVault's roles at Money20/20, follow @Enacomm and @VoiceVault on Twitter.
Enacomm is a leading provider of innovative, interactive and intelligent customer self-service and assisted-service solutions. A frontrunner in interactive voice response (IVR) technology, Enacomm solutions are delivered as hosted services or on-demand through the cloud. The company's customer base is made up of Fortune 50 to Fortune 2000 companies concentrated in the Financial/Credit Union, Prepaid/Cash Card, Health Care and Utilities industries. Utilizing web, mobile, SMS texts, email, voice and other communication technology channels, Enacomm helps organizations provide customers with a superior, multi-modal self-service experience. Enacomm processes more than 1,000,000 voice calls, SMS texts, emails and automated data transactions every day. To learn more, go to www.enacomm.net.
VoiceVault is a leading provider of voice biometrics with expertise in delivering identity verification solutions to the financial services market. To date, the company's voice biometric solutions have helped secure billions of dollars in money transfers, wires and ACH payments in 40 countries around the globe. The customer centric solutions are designed around the premise that speaking is convenient and natural and that no two voices are exactly the same. For more information, visit www.voicevault.com.
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SOURCE: Enacomm, Inc.