Market World Automatic Speech Recognition Market Drivers | Page 3
services. These apps can be used to connect with smart devices and systems from behind the wheel. More
applications of such kind are expected to come up with development in technology especially in the field of
neural network and fuzzy logic. Primarily banks are the major customers of these applications. Among them are
ANZ in Asia Pacific, BBVA in Spain, US bank in USA.
These banking institutions believe that voice biometrics provide a better mobile banking experience in terms of
safety, accuracy and speed. The market is observing an increasing demand for speech based biometrics for
identification purpose. This growth is mainly on account of growing amount of fraud. The vendors must
concentrate on cost effective and easy to use automatic speech based applications that cater the need of fraud
management.
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