What is 'two factor authentication'?

Authentication models typically rely on one or more of the following factors:

• 'Something you know' - e.g. a password, PIN or memorable information
• 'Something you have' - e.g. PIN generating key fob or hardware token
• 'Something you are' - a biometric such as a fingerprint or voiceprint.

Combining two of these factors creates a two factor authentication model.

Why is 'two factor authentication' important?

'Two factor authentication' models are generally more secure. In some sectors the two factor model is now the standard. An example of this is internet banking in the USA. In 2005 US financial services regulator, The Federal Financial Institution Examination Council, said that

• Single-factor authentication methodologies may not provide sufficient protection for Internet-based financial services.
• The FFIEC agencies consider single-factor authentication, when used as the only control mechanism, to be inadequate for high-risk transactions involving access to customer information or the movement of funds to other parties.

Consequently US retail banks have implemented two factor processes for web sites. The practise is now beginning to spread to authentication models used in other channels, such as the contact centre / IVR services.

The benefits of using voice verification within a two factor model

• Voice verification is the only biometric ('something you are') that will work over the phone or web - without the need for any special equipment. 
• Voice verification is more cost effective than distributing PIN key fobs, hardware tokens etc that can be easily lost, stolen, or simply not at hand when your customer wants to contact you.
• Voice verification is natural and effortless. It enables organisations to offer a better customer experience and higher levels of security.

Two factor authentication from VoiceVault

VoiceVault supports a broad range of two and three factor authentication models.
 

• VoiceVault can be easily integrated with an existing single factor (PIN / Password) authentication process. A caller is voice verified and the PIN or password is checked. 

• VoiceVault has its own built in 'shared secret' and 'memorable date' capability. Callers can record their own secret question and answer (or date) at enrolment. At verification the caller's voice is verified and the answer to the secret question or date is checked.

• VoiceVault can support 'out of band' two factor authentication for web sites.

Key benefits of using VoiceVault for two factor authentication

• Ultra-high levels of security.
• Proven technology already in use by blue chip financial institutions.
• Easy and convenient.
• Cost effective.
• Wide range of implementation options.
• Straight forward integration with existing systems.

ISO 27001 Rated. Certified to issue advanced digital signatures.