Pennsylvania Bank Pilots Voice Biometrics

Customer demand for a simple, unobtrusive form of authentication has prompted Somerset Trust Co. to pilot a voice-based biometric solution.

The Somerset, Pa.-based bank, a family-owned institution with more than $425 million of assets, is the first financial institution to pilot a solution from New Hope, Pa.- based VoiceVerified that harnesses the unique characteristics of the human voice to create the vocal equivalent of a fingerprint.

The vendor’s Point Service Provider (PSP) delivery model is designed to help financial institutions comply with the Federal Financial Institutions Examination Council’s stronger authentication mandate.

Initially, Somerset Trust will deploy VoiceVerified’s technology to secure wire transfers which are considered high-risk transactions because they often involve large sums of money. Even though wire transfers may not be conducted online, and the bank only processes 200 per month, the nature of the transaction makes it a good fit for a test, said Richard Stern, the bank’s senior vice president and treasurer.

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