Earlier this month, la banque postale obtained approval from French data protection regulatory organization CNIL to offer a voice biometrics solution by Talk to fund customers to authenticate card not present transactions. La Banque Postale will launch Talk with Pay to any or all its customers starting this season. Using a voice generated unique dynamic CVV, cardholders are protected when they purchase online, by mail or by telephone.
Cardholders using PCs, Macs, iOS or Androïd devices can benefit from Speak with Pay. Strong authentication is ensured by the mix of an outbound call from the issuing bank, by voice authentication and by customer’s phone ownership. Cardholders are automatically and immediately informed by the bank just in case there exists a fraud attempt together with the card.
Speak with Pay is impact-free for retailers helping banks reduce card not present fraud while offering issuing banks additional revenue generation with added value services for example card-based transactions background and secure online banking access.
Within a statement to L’Express, Patrick Wajsbrot, President of Speak with Pay, commented that along with La Banque Postale, LCL, Crédit Agricole and Carrefour Banque may also be enthusiastic about the technology. La Poste Group is talks to buy the whole share capital in the European Private Bank (BPE), it said yesterday.
The French postal operator stated that together with the supervisory board of their banking subsidiary, La Banque Postale, its directors met in the week to authorise the start of negotiations with all the BPE’s parent company, Crédit Mutuel Arkéa.
BPE currently has 321 employees and 32 branches in major French cities over the country. Furthermore, it offers asset management services out of offices in Paris and Brittany.
The bank holds EUR 3.1bn in deposits, and currently loans out EUR 2.8bn in customer credit. Banking income is all about EUR 59.5m a year, with around EUR 7.3m in profits. La Poste said it thought that devipky99 agreements to get the organization ought to be in place at the end of this year. “By this step, postal banking are able to better serve its customers by giving a full selection of proprietary services and products tailored on their needs,” the business said within a statement.
“This is one from the priorities defined within La Banque Postale’s strategic plan for 2011-2015.” La Banque Postale currently accounts for about EUR 5.2bn in revenue each and every year, with 10.38m active customers and 450,000 corporate/institutional clients, 17,000 points of customer contact and EUR 290bn available in customer credit.