Voice biometrics has emerged as a transformative force in banking security, presenting a fast and intuitive method for customer verification. Unlike knowledge-based authentication, such as static passwords, voice biometrics leverages the inherent uniqueness of a user's voice, making it a compelling alternative for securing interactions across digital banking and payment channels.
"Voice is powerful. It’s who you are," shared Entersekt’s VP of Identity and Authentication, Mzu Rusi, in a recent webinar, ‘Fall ’25 Fraud Report insights: The voice verification shortfall.’ That being said, voice biometrics still carry a risk—not only because of deepfakes, but because so many banks still accept voice as the truth without considering the context of the interaction.
Let’s explore the options for banking leaders looking to protect their genuine customers, without sacrificing the modern convenience of voice verification.
Where voice-based authentication in banking falls short
The operational landscape for financial institutions (FIs) is increasingly complex. The rise of deepfakes and advanced social engineering has shifted the fraud paradigm: attackers now exploit human behavior and timing, not just systems. This makes voice biometrics, if used as a sole authentication mechanism, susceptible to modern threats, such as relay attacks and deepfake voice fraud.
"If voice is treated as the final gate, then the system becomes predictable," Rusi warns banks—and predictable systems become targets for exploitation. The imperative for banks is to treat voice biometrics not as a silver bullet—because no such thing exists—but as an integral signal within a layered, context-aware defense strategy.
Effective fraud prevention requires more than one authentication factor
The message for banking leaders is clear: voice alone cannot be taken as the sole truth. In other words, as fraudsters deploy sophisticated tactics—like real-time social engineering, relayed authentication, and deepfake audio—relying solely on voice biometrics creates a single point of failure.
From a security standpoint, the question can no longer be ‘Does the voice match?’ but rather ‘Should we trust this interaction at this moment?’
To effectively protect customers across banking and payment channels, leading FIs are turning to advanced risk-based authentication. Successful risk intelligence hinges on the collection and analysis of various signals, such as customer behavior, device signals, and transaction history. This range of signals enables FIs to determine the level of risk and respond with the appropriate security measures for each transaction. They have the data to determine who is transacting—is it a legitimate customer or fraudster—why (the intent behind the transaction), and whether the customer should be taking that action.
While many banks affirm the importance of fraud prevention and its budgetary priority, they would do well to follow through with advanced scam and fraud security as AI takes fraud risks to a new level. The industry is learning fast that customers are likely to jump ship if they become a victim of banking fraud.
Solutions like Entersekt’s Authentication Advisor dynamically defends by evaluating multiple signals: originating channel, authenticating channel, device reputation and location, behavioral analytics, and more. For instance, if a high-risk transaction is initiated from an unfamiliar device or location, the system can prompt an additional challenge, such as a push notification to a trusted device or proximity proof, blocking attacks without disrupting legitimate users.
This layered defense drastically reduces the likelihood that fraudsters will succeed with relay or deepfake-assisted attacks, while maintaining a consistent and user-friendly experience across all banking and payment channels.
Modern fraud prevention protects customers and enhances their experience
Dynamic authentication processes not only safeguard customers from fraud, they also elevate the customer experience. Banks integrating modern, context-aware authentication can offer customers personalized authentication experiences, reducing friction. For example, a customer uses their preferred authentication method—such as biometric —to authenticate a transaction, and only when the system flags an action as high risk, does it step up security, keeping that customer safe.
This approach ensures legitimate customers are protected from fraud threats while enjoying convenient access. In practice, these advancements can build greater trust and satisfaction with customers’ digital banking experiences.
Future-ready fraud prevention
Emerging fraud trends in digital banking prompt banks to innovate at pace to stay ahead of adversaries. The integration of voice biometrics into broader, context-aware authentication frameworks empowers banks to adapt as new threats emerge.
Future-ready banks are investing in scalable solutions that can orchestrate multiple authentication methods—biometrics, device binding, behavioral analytics—across millions of transactions and customer touchpoints.
By treating voice as a critical signal, rather than a standalone truth, banks can deliver both security and agility, positioning themselves for sustainable growth in a rapidly evolving digital landscape.
Learn more about voice biometrics and best practices to safeguard your customers from modern fraud in our webinar: Watch now!