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Banks should consider voice

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Banks should consider voice

The financial services industry should consider voice biometrics as a more secure and convenient method of multi-factor authentication for phone or online banking, says vnunet.com.

Voice biometrics firm VeCommerce said this week that the case for voice biometrics is further strengthened with the recent introduction of an ISO global standard for deploying biometrics in financial services.

Brett Feldon, GM for EMEA at VeCommerce, said: "Over a quarter of the UK population now regularly uses online banking but fraud continues to increase and criminals are becoming more sophisticated in their attacks."

Users satisfied online

According to a survey, when it comes to using online financial services, users are more satisfied with the online experience offered by banks than those offered by credit card or investment firms, says Computerworld.

Online banking scored 82 out of 100 points, up from 78 points last year, while credit card and investment Web sites both scored 75, according to the 2008 ForeSee Results/Forbes.com Online Financial Services Study, which employs the methodology of the University of Michigan's American Customer Satisfaction Index (ACSI).

The online banking score rivals the satisfaction score of 83 for online retail, the highest-scoring category measured by ACSI, said Larry Freed, president and CEO of ForeSee Results, and author of the study, in a statement.

Bangladesh banks told to expand

Bangladesh Bank has issued a letter to the executive heads of all scheduled banks in the country asking them to expand online banking for payment of all types of bills and fees of government, semi-government and autonomous institutions, says TradingMarkets.com.

The central bank has sent the directive to the MD or CEO of each of the banks following some decisions of a recent meeting on Introduction of Online Banking Facilities and its Expansion chaired by secretary to the chief advisor's office Kazi M Aminul Islam.

Following the meeting, the scheduled banks have been urged to introduce or expand online banking facilities for paying all kinds of bills and fees of government, semi-government and autonomous institutions, in addition to utility bills, on the basis of agreement with the institutions concerned.

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