The 2016 Voice Biometrics Product and Market Report introduces coverage of the uses and benefits of an IT sector that is growing in popularity due to its ability to improve security, mitigate fraud risks and reduce losses, while greatly enhancing the customer experience.
Voice biometrics is a natural fit for contact centers; it uses the unique characteristics of each speaker's voice to identify them, a big win for enhanced security and reduced customer effort. It also provides great benefits for enterprises looking to improve productivity and reduce the cost of service, given that voice biometrics can shave anywhere from 20 seconds to 5 minutes of talk time from agent-assisted interactions.
The 2016 Voice Biometrics Product and Market Report is the only in-depth analysis of these emerging solutions, covering vendors, products, functional capabilities, prices, and more. The report analyzes market trends and challenges, product innovation, reviews the competitive landscape, and presents market activity data and 5-year projections.
The report covers seven vendors who provide voice biometrics solutions to contact centers, although most of these solutions are designed for broader use across many verticals. The 6 vendors covered in detail in this Report are Auraya, NICE, Nuance, SESTEK, TradeHarbor and Verint Systems. A seventh vendor, ValidSoft, is covered at a high level.
Key features of the report include:
- Definition of voice biometrics: what it is, how it works, and an examination of the functional components that comprise these solutions
- Insights into the current uses and applications of voice biometrics and its benefits for customers, contact centers and agents
- A look at non-contact-center applications for voice biometrics, including e-Signature
- Discussion of the regulatory issues that can potentially impact the voice biometrics market
- A review of the market trends and challenges that are driving investments and vendor innovation
- The role of voice biometrics in the customer journey
- Review and assessment of the voice biometrics competitive landscape
- Voice biometrics market activity analysis and 5-year market growth projections
- Overview of the 7 leading and contending voice biometrics vendors, including company snapshots and product offerings
- Implementation analysis, including vendor methodology, best practices, training and professional services, and maintenance and support
- Discussion of voice biometrics market innovation, including new features and enhancements that are planned for delivery in the next 12-18 months
- Vendor pricing models for on-premise, cloud-based and managed service voice biometrics solutions
- Detailed company reports for the 7 leading and contending voice biometrics vendors, analyzing their products, functionality and future product development plans
- Comprehensive Voice Biometrics Vendor Directory
- Voice Biometrics Glossary of Terms
- Voice biometrics is replacing outdated and fraud-prone authentication processes: Contact centers are adopting voice biometrics to protect their customers and cut losses while improving the service experience.
- The voice biometrics market is seeing increases in global presence and momentum: Voice biometrics solutions are starting to be used around the world, due to their effectiveness and proven value. While early adopters primarily used the technology in their contact centers, many companies in a variety of verticals have begun to find new uses for these solutions throughout the enterprise.
- Companies and consumers alike benefit from voice biometrics: Voice biometrics technology helps both contact centers and their customers by addressing customer security and privacy concerns, smoothing the way for improved rapport between customers and agents, and reducing contact handling time and operating costs.
- Voice biometrics is an important element of omni-channel support: To address the growing number of communications channels, voice biometrics solutions are beginning to support interactive voice response (IVR), mobile apps, web applications, and audio and video conference calls.
Please Note: A customer license letter agreement needs to be signed prior to delivery of this product. This letter will be sent to you via email after your order is placed.
1. Executive Summary
3. Research Methodology
3.1 Report Participation Criteria
4. What is Voice Biometrics?
4.1 Definition of Voice Biometrics
4.2 How it Works
4.3 Voice Biometrics Application Building Blocks
4.6 Vendor Definitions of Voice Biometrics
5. Voice Biometrics Uses and Benefits
5.1 Vertical Applications
5.2 Misconceptions about Voice Biometrics
6. Voice Biometrics in Contact Centers
6.3 Fraud Identification
7. Non-Contact-Center Voice Biometric Applications
9. Compliance and Regulations
10. Voice Biometrics Trends and Challenges
10.1 Voice Biometrics Trends for 2016
10.2 Voice Biometrics Challenges for 2016
11. Voice Biometrics' Role in the Customer Journey
12. Voice Biometrics Competitive Landscape
13. Voice Biometrics Market Activity Analysis
13.1 Measuring Contact Center Voice Biometrics Market Activity
14. Contact Center Voice Biometrics Market Projections
15. High-Level Functional Summary
16. High-Level Technical Summary
17. Vendors and Solutions
17.1 Company Snapshot
17.2 Vendor Offerings and Products
17.3 Dashboards and Reporting
18. Implementation Analysis
18.1 Implementation Process
18.2 Implementation Best Practices
18.3 Training and Professional Services
18.4 Maintenance and Support
19. Voice Biometrics Market Innovation
20.1 Premise-Based Pricing
20.2 Cloud-Based Pricing
20.3 Managed Service Pricing
21. Company Reports
21.1 Auraya Systems Pty Ltd
21.3 Nuance Communications, Inc.
21.5 TradeHarbor, Inc.
21.6 ValidSoft UK Ltd.
21.7 Verint Systems
Appendix A: Voice Biometrics Glossary of Terms
Appendix B: Voice Biometrics Vendor Directory
Table of Figures
Figure 1: Voice Biometrics Technology Building Blocks
Figure 2: Accuracy
Figure 3: Tuning
Figure 4: Vendor Definitions of Voice Biometrics
Figure 5: The Uses and Benefits of Voice Biometrics
Figure 6: Summary of Voice Biometrics Benefits
Figure 7: Uses and Benefits, by Vendor
Figure 8: Vertical Solutions
Figure 9: Enrollment
Figure 10: Verification
Figure 11: Fraud
Figure 12: e-Signature
Figure 13: Privacy Laws Applicable to Voice Biometrics
Figure 14: 2016 Voice Biometrics Trends
Figure 15: 2016 Voice Biometrics Challenges
Figure 16: Voice Biometrics Improves the Customer Experience
Figure 17: Contact Center Voice Biometrics Customer Growth Rate, 2016 - 2021
Figure 18: High-Level Functional Summary
Figure 19: High-Level Technical Summary
Figure 20: Security
Figure 21: Administration
Figure 22: Integration Capabilities
Figure 23: Company Snapshot of May 2016
Figure 24: Product Modules
Figure 25: Dashboards and Reporting and Analytical Capabilities
Figure 26: Implementation Process
Figure 27: Implementation Best Practices
Figure 28: Training and Professional Services
Figure 29: Maintenance and Ongoing Support
Figure 30: Emerging Voice Biometrics Capabilities, by Category
Figure 31: Pricing: Premise-Based Voice Biometrics Solution
Figure 32: Pricing: Cloud Based Voice Biometrics Solution
Figure 33: Pricing: Managed Service Voice Biometrics Solution
Since each voiceprint is unique to every individual and non-replicable, biometrics can be a highly effective and secure method of identification, authentication, or even proof of life. For contact centers, voice biometrics has emerged as an important tool for effectively and securely handling customer identification, authentication and fraud mitigation. As the old and proven ways of verifying callers are being challenged as too unreliable and risky due to social engineering, voice biometrics is emerging as the most viable and cost-effective approach for providing security, which is an essential element of the servicing experience.
When it comes to contact centers, voice biometrics' primary applications remain authentication and fraud mitigation, two uses that could save companies millions of dollars and improve the customer experience. The need for strong, multi-factor authentication is increasing, as the number of fraud attacks on enterprises, government agencies and personal systems continues to grow. Voice biometrics is an ideal method for validating callers and preventing fraudulent activity in contact centers. The voiceprints that are the foundation of a voice biometrics program cannot be decoded, reconstructed or used by another system, even if the voice biometrics application is hacked.
The voice biometrics market is confusing because each vendor has their own unique approach and no two solutions are alike. Prospects cannot easily compare the functionality, effectiveness and accuracy of the offerings, and it is difficult to verify vendor claims. This Report is designed to demystify the market and its products, and synthesize the information in a cohesive manner to give IT and business managers the information they need to better understand this emerging IT sector.
The 2016 Voice Biometrics Product and Market Report is the only in-depth analysis of these emerging solutions, covering vendors, products, functional capabilities, prices, and more. This Report presents information about how these solutions are being used, their benefits, as well as insights into emerging best practices. It also analyzes market trends and challenges, product innovation, reviews the competitive landscape, and presents market activity data and 5-year projections. The Report covers seven vendors who provide voice biometrics solutions to contact centers, although most of these solutions are designed for broader use across many verticals. The 6 vendors covered in detail in this Report are Auraya, NICE, Nuance, SESTEK, TradeHarbor and Verint Systems. A seventh vendor, ValidSoft, is covered at a high level.