Voice and Speech Recognition in Banking – What’s Possible Today

Header image credit: Total Voice Technologies

“When the speech recognition systems are faced with a question that appears challenging for the algorithm to process and understand, it seems to be better to suggest a probable answer rather than sending an error message in order to help customers continue to use the service.”


The Conversational AI Summit at Transform: Learn why it’s the most important AI tech right now

“The Summit is important because conversational AI isn’t an overhyped future possibility, but rather a technology you should be investing in today to help drive your business forward,” says Ryan Lester, senior director of customer experience technologies at LogMeIn.”


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All you need to control your Mac or iOS device is your voice

  • “Accessibility has become a popular avenue for tech companies lately, and today Apple revealed its latest push: Voice Control.
  • With macOS Catalina and iOS 13, you’ll be able to control your devices completely with your voice.
  • Most importantly, the company says your voice is processed on the device. Nothing is sent to, or stored by, Apple.”


What will be the impact of Voice on FinTech

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  • “Eight in 10 consumers in PwC’s 2019 Global Consumer Insights Survey said they conducted at least one financial activity through a digital channel in the past year.
  • According to PwC estimates, roughly two-thirds of the inquiries handled by call centers concern basic customer assistance issues,
  • For instance, PwC thinks voice could reduce frontline personnel by 10 to 15 percent. It could also diminish risk for the bank, cutting human error by as much as 15 to 30 percent.”


Disrupting the disruptors: How AI and voice recognition can transform the customer experience

  • “Artificial Intelligence and natural language Machine Learning (ML) are on the verge of transforming the fabric of voice-driven customer experience through pioneering speech recognition technology.
  • Leading voice technologies, in essence, will enable businesses to automatically identify, understand and service their clients. It will help them improve the customer experience and reduce costs. FinTech companies have helped shape the future of banking, now they must embrace the future of customer communication.”