South African credit-reporting firm TransUnion has announced plans to develop a national “Voice Bank” of voice biometric prints in partnership with biometrics firm OneVault, saying it will help businesses curb fraud and identity theft.TransUnion says that a national voice bank will reduce call-handling times for organisations that employ voice biometrics and improve customer and agent satisfaction. It cites global studies that suggested users experience approximately 80% faster authentication via voice biometrics, with approximately 90% of users preferring the solution.The hosted Voice Bank solution already has 30 000 voice prints, primarily acquired via TransUnion's consumer call centre, but this number is expected to grow rapidly. TransUnion anticipates that building this Voice Bank will deliver significant value to corporate customers as this data type is reliable and unique. “Voice biometrics adds a new capability to TransUnion's Fraud and Authentication solutions, which include knowledge-based authentication, fingerprint verification, fraud prevention models and automated decision support solutions, ” says TransUnion's Tim Frost, vice president: Product Management & Development.”Our partnership with South Africa's leading specialist voice biometric solutions provider has meant that we can offer our customers an important addition to our authentication solution stack. Voice biometrics provides a step-up in security, a new user experience and a service differentiator, as well as driving lower operational costs. It lowers business risk, while helping to improve business competitiveness and increase customer satisfaction.”South Africa, like the rest of the world, is encouraging transactions and product applications to shift online, but consequently is seeing increases in identity theft and in card transaction fraud. Consumers are increasingly vulnerable and technologies such as voice biometrics provide additional security measures that help to address these concerns.”South Africa is at the start of this journey. We are working to provide our customers with a trusted, nationally supported Voice Bank and voice biometric solution that will not just add security, but will support an improved end-consumer experience and digital business growth,” Frost concludes.