Voice authentication is a new form of biometrics that can prevent identity theft in voice interactions between banks and consumers. Voice biometrics uses artificial intelligence to identify that a speaker's voice belongs to him and only to him. Artificial intelligence (AI) plays an important role in managing fraud. Artificial intelligence technologies, such as machine learning (ML) algorithms, can analyze large amounts of data and detect patterns and anomalies that may indicate fraudulent activity.
AI-based fraud management systems can identify and prevent various types of fraud, such as payment fraud, identity theft or identity theft attacks. They can also adapt to and learn from new fraud patterns and trends, improving their detection over time. The report, entitled How to facilitate the customer experience and prevent fraud, found that banking institutions consider artificial intelligence and machine learning to be essential to prevent fraud in the future.