The financial industry should listen up and recognize voice technology and the opportunities that come with it. With customers and users expecting better automation in their day-to-day lives, banking and other financial services must be able to keep up with the demand for better user experience. As with other innovations, the retail industry is paving the way. Market leaders are busy equipping consumers’ homes with smart speakers and educating them on how to use voice-operated services, ensuring that Siri, Alexa or one of their friends are there and ready to listen as soon as consumers drop their last reservations towards voice technology. Will you have an ear close by your clients, when they are ready to talk to their bank account? Some relevant use cases:

Voice automation in call centers

Voice solutions for customer service lines, are becoming increasingly smart. Even more complicated requests, such as blocking your credit card and asking for your last bookings at the same time, can be handled by the artificial service managers. Customer identification and even very specific dialects are no barriers for modern solutions. A digital voice assistant in your call center allows organizations to free up agents for more complex cases and improves overall service availability.

Voice-guided mobile banking apps

Are you already on your end-clients phone with a mobile banking app? Given that mobiles phones already have all the features you need for a voice technology solution, use this favourable starting position and let your clients speak. For mobile banking, voice can be used as a safe and convenient way to identify the client. Both at the beginning of a transaction and – as a specific characteristic of voice – during a dictated instruction for a trade or payment. This has the potential to add a further layer of security to mobile banking.

Some examples of Speech to Text companies from Israel:

  1. Tukuoro:

 Tukuoro operates ‘at the edge’ to bring voice activation to any device in public areas and indoor spaces. Its Tukuoro Voice Open Platform API can be integrated into kiosks, ticket stands, or healthcare devices. Most importantly, it operates outside of ‘The Four’ and values the privacy of its users by not sharing data.

https://www.tukuoro.com/

 

  1. ai:

 We’ve all had conversations with machines, and we know this because it’s so obvious when we talk to them. Voca.ai automates and scales customer conversations with ‘friendly voice AI agents’ – meaning, you’re likely talking to an intelligence system next time you are on a call with a call center implementing Voca.ai’s solution.

https://voca.ai/

 

  1. Verbit:

Verbit is a smart transcription and captioning solution for healthcare professionals, universities, and journalists. Its speech-to-text technology is 99% effective and can be invaluable for organizations that rely on transcription at a fast and effective pace.

https://verbit.ai/

 

For further information on Speech to Text solutions from Israel, contact the Economic and Trade Department at the Consulate General of Israel in Mumbai.

Siddhant Gupte; Trade Officer, Mumbai

Email: siddhant.gupte@israeltrade.gov.il