JPMorgan to roll out Voice ID; begins branch expansion

JPMorgan Chase is to begin using individuals’ unique voiceprints to identify customers who are calling to inquire about their credit card accounts.

Once a voiceprint is created, 'Voice ID' uses a customer’s unique voice to authenticate his or her identity in the background of their conversation without requiring the customer to share sensitive personal information over the phone.

Mike Ashworth, chief operations officer for Chase Consumer and Community Banking, says: “Using the unique identifier of a customer’s voice, we can securely verify who they are, replacing the need for multiple security questions, focusing on the reason for their call.”

He says that Chase will introduce the new technology to its credit card customers this spring, and extend Voice ID across other products and services later this year. 

In a separate developments the bank has also announced plans to open 70 new branches, hiring up to 700 new employees in Virginia, Maryland and Washington.

Chase earlier this year committed to a five-year plan to expand its branch network into 15-20 new US markets. Currently, the firm has 5,130 branches in 23 US states and plans to open up to 400 new branches and hire as many as 3,000 employees in new markets.

The new branches will be a mix of smaller digital-first sites and full-service branches for more complex financial needs.

“Branches are the heart of our company because they allow us to connect with our customers during life’s most important moments,” says Thasunda Duckett, CEO of Consumer Banking, Chase. “Chase is deeply invested in the communities we serve, and we’re excited to provide more jobs, neighborhood resources, and access to financial services to the people here.”

Published: 23 April 2018

Source: www.finextra.com


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