BURLINGTON, Mass., – June 18, 2015 – Nuance Communications, Inc. (NASDAQ: NUAN) today announced that Eastern Bank, the largest and oldest mutual bank in the United States, has deployed Nuance’s voice biometrics technology to make it easier for customers to do business by using the sound of their voice to access their accounts.
Until very recently, when Eastern Bank’s customers contacted the Customer Service Center (1-800-EASTERN), they had to prove their identity by answering a series of security questions before proceeding with their phone call. In recent customer surveys, Eastern Bank customers conveyed their frustration with this process, making it clear that recalling information and answers to questions was a huge source of aggravation. Seeing an opportunity to use advanced technology to solve a customer problem, Eastern Bank has introduced voice biometrics technology from Nuance to make it easy for customers to access their accounts when calling customer service.
Now, when a customer calls Eastern Bank, they engage in natural conversation with a customer service agent, and during that time, Nuance’s FreeSpeech voice biometrics technology is used to compare the customer’s voice to their unique voiceprint, silently signaling to the bank representative when the customer’s identity has been verified, and granting them access to their account.
Eastern Bank’s voice biometrics project is part of a portfolio of technology investments aimed at reinventing how customers bank. Eastern’s other publicly announced technology initiative, Eastern Labs, is unique among bank innovation groups in its mandate to both create new data-driven technologies and to spin successful technologies out into new companies.
“We heard from our customers that verifying their identity through answering security questions was a frustrating process – and we listened and made meaningful changes,” said Bob Rivers, President and Chief Operating Officer, Eastern Bank. “Voice biometrics allows our customers to get service in the most natural and intuitive way, through their voice. The end result is a better and more effortless experience for our customers.”
“As the first bank in North America to launch voice biometrics in the call center, Eastern Bank is ahead of the innovation curve,” said Robert Weideman, executive vice president and general manager for the Enterprise Division of Nuance. “Voice biometrics is a more natural experience for customers while also offering a level up in security. Through delivering this technology to its customers, Eastern Bank is demonstrating a true commitment to reinventing the customer experience.”
New data from Opus Research shows that the voice biometrics authentication market is poised to grow from $200M (2013) to $750M globally in 2017. Nuance voice biometrics technology leads the industry, with over 50 million voiceprints deployed by its customers, representing over 80% of the commercial market. (Opus Research: Census Report: Voice Biometrics Census and Forecast, November 2014).
To learn more about how voice biometrics can reinvent a customer experience, go here.
About Eastern Bank
Founded in 1818 and based in Boston, Eastern Bank is the largest and oldest mutual bank in the country, with $9.5 billion in assets and more than 100 branches serving communities in eastern Massachusetts and southern and coastal New Hampshire. Eastern Bank offers banking, investments and insurance all under one roof, and prides itself on working harder to understand its customers’ needs so it can deliver these services in a committed and personal way. Eastern Bank, which includes Eastern Bank Wealth Management and Eastern Insurance, is a recognized leader in corporate social responsibility and for its advocacy on behalf of a number of social justice causes. For more information, visit: www.easternbank.com, www.facebook.com/easternbank or www.twitter.com/easternbank.
About Nuance Communications, Inc
Nuance Communications, Inc. (NASDAQ: NUAN) is a leading provider of voice and language solutions for businesses and consumers around the world. Its technologies, applications and services make the user experience more compelling by transforming the way people interact with devices and systems. Every day, millions of users and thousands of businesses experience Nuance’s proven applications. For more information, please visit www.nuance.com.
Nuance and the Nuance logo are trademarks or registered trademarks of Nuance Communications, Inc. or its subsidiaries in the United States of America and/or other countries. All other company names or product names may be the trademarks of their respective owners.
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