The COVID-19 pandemic has changed the way financial institutions manage its operations, as well as how people handle their personal banking and finances, placing a greater emphasis on new digital technologies. Many banks today avail the assistance of VoIP service providers in India, as this technology allows them to effortlessly adjust their communication infrastructure to match evolving requirements. VoIP technology also plays a pivotal role in empowering the team of a financial institution to stay connected, irrespective of their physical location. 

In addition to VoIP, technologies like Voice Verification and Voice calling for business are also widely used by banks of today. Voice Verification basically uses your unique voice to verify who you are. Your voice print, much like your fingerprint, can provide an added layer of protection to safeguard you and your accounts from fraud.

It is not uncommon for people to forget their PIN or have to spend time on the phone resetting security passwords. As opposed to many traditional authentication tactics, voice verification technology allows banks to authenticate a customer’s voice in real-time, thereby minimizing time and streamlining the password process for a more efficient, more accurate experience.

Lowering the risk of fraud and strengthening cybersecurity are top priorities for financial institutions. Voice verification technology has emerged as a strong security measure to help achieve these goals. Unlike passwords and PINs, which can be compromised, the unique qualities of a person's voice—such as pronunciation, rhythm, timbre, and pitch—tend to be distinct. Voice verification technology typically distinguishes genuine customers from fraudsters by analysing certain features in their unique "voiceprint.". This enhanced protection serves as a vital alternative to overburdened fraud prevention teams that currently rely on manual, time-consuming methods to combat fraud.

Explore the web to know about more uses of voice technology in the domain of finance, along with the prevalence of VoIP services for small business.