“The value of voice banking is becoming well known enough for an ongoing flurry of related releases either by banks or in partnerships with tech developers. Wells Fargo recently launched a virtual assistant but is playing catch up to other American banks. For instance, U.S. Bank launched a voice assistant for its mobile app last year to allow users to carry out their banking requests using conversational language. And Bank of America saw its existing virtual assistant, Erica, become increasingly popular, tripling interactions over the last year to 104.6 million total. Credit unions are experimenting with AI too. Wisconsin’s Landmark Credit Union began working with conversational AI platform Clinc to create a virtual assistant, and Minnesota’s Wings Financial Credit Union started to work with Nuance to add voice AI and vocal biometric security to its customers.”
- “Microsoft Corp. is in advanced talks to buy artificial intelligence and speech technology company Nuance Communications Inc., according to people familiar with the matter.
- ‘This can really help Microsoft accelerate the digitization of the health-care industry, which has lagged other sectors such as retail and banking,’ said Anurag Rana, a Bloomberg Intelligence senior analyst. ‘The biggest near-term benefit that I can see is in the area of telehealth, where Nuance transcription product is currently being used with Microsoft Teams.’”
“In this article, we discuss three of Barclays’ AI initiatives in particular, as well as the AI vendors the bank claims to have worked with:
Risk Modeling with Simudyne: Predictive analytics for analyzing the risk of lending to a loan applicant.
Voice Recognition for Authentication with Nuance: Natural language processing-enabled identity verification and authentication via voice recognition.
Business Process Automation with IBM: Automated debit and credit card deactivation and customer feedback analysis.”