An Innovacorp investee company, Diaphonics Inc., recently announced they landed a new US customer.
The International Bank of Miami is using a voice verification system, Spike Server, developed by Halifax-based Diaphonics Inc.
With Spike Server, banks are able to proactively fight identity fraud through enhanced verification. Voice verification works by matching a caller's voice against a previously captured voice model, or voiceprint. Not only is voice verification secure, but it is often more convenient than common banking verification methods such as challenge questions, faxes and callbacks.
"Spike Server gives us the ability to not only verify callers, but to also record conversations and provide an audit trail of voice transactions," bank vice-president Ricardo Perez-Reinaldo said.
According to the International Biometrics Group, the market for biometrics is growing quickly, reaching US$2.2 billion in 2005.
Halifax, Nova Scotia, July 26, 2005