VoiceTrust Awarded Dutch Grant For Voice Biometric Solution
VoiceTrust has been awarded a Dutch government grant for the roll-out of biometrics-based ID services, Proof-of-Life, in Pakistan.
The grant, known as the Private Sector Investment Program (PSI), is a subsidy program of the Dutch Ministry of Foreign Affairs and Development Cooperation that supports innovative investment projects in emerging markets. A PSI project is an investment project, implemented by a Dutch (or foreign) company together with a local company, in eligible developing countries. If an investment meets the criteria, it can be eligible for a grant by PSI. This grant consists of a financial contribution to the costs of the investment.
"VoiceTrust is honored to receive the PSI grant and committed to rolling-out Proof-of-Life in Pakistan," said Tariq Habib, CEO of VoiceTrust, in a statement. "Individuals will no longer need to memorize PINs and passwords, they just use their voice to have their identity verified. Travelling long distances and waiting in long queues could be a relic of the past."
VoiceTrust is a global provider of voice biometrics security, and its Proof-of-Life program delivers payment services, like secure pension disbursement that allows pension funds using voice biometrics to ensure that the recipient is still alive and in-country, the company said. Recipients do not need to personally visit pension fund locations to authenticate themselves.
"The project was well received by the committee because the services to be provided are an important step towards delivering banking and financial services to the unbanked population," said Martijn Moonen of the PSI program, in a statement. "The reduced transaction costs allow new small businesses to make use of the extensive mobile network in Pakistan. This kind of private-sector investment is exactly what PSI is meant for."