Tag Archives: Cortana

Clinc Partners with Enacomm to Connect Financial Institutions with its AI Conversational Banking Platform

A simpler, natural way to deal with finances will soon be available more broadly to consumers. At Money20/20, Enacomm announced that it will bring “Finie”, the world’s most advanced conversational artificial intelligence (AI) platform for banking – built by Clinc, Inc. (clinc.com) – to financial institutions across the country.

Through a new reseller agreement, Enacomm is now a “preferred partner” of Clinc and will help extend the reach of the company’s financial AI technology, which enables users to have natural, human-like conversations with their bank accounts. Clinc’s sophisticated platform uses best-in-market AI to understand natural human language and delivers timely, personalized responses, from insightful spending advice to balance information and complex transaction details.

“To effectively compete, banks and credit unions need to harness the power of data-driven AI to positively shape the consumer experience,” said Enacomm CEO Michael Boukadakis. “Not only does intelligent interaction technology conserve resources, but Clinc’s advanced AI platform provides the best experience we’ve seen to enable customers to quickly and easily find the information they need to make informed decisions about their money through conversations with their bank accounts.”

According to the 2017 Accenture Banking Technology Vision report, four out of five (79%) banking executives surveyed believe that AI will revolutionize the way banks gather information and interact with customers, and 76 percent of respondents believe that within three years, banks will deploy AI as their primary method for interacting with customers.

Benefits of Clinc’s AI platform for banks and credit unions include:

  • Creating a tailored customer experience that allows users to speak to their own intelligent, personal financial assistant
  • Unlocking a broad range of interactions impossible with current technology to increase customer engagement
  • Understanding complex questions and transforming them into powerful insights
  • Making actionable predictions by observing user behaviors and finding the appropriate users for cross-selling products

“Enacomm is the right partner for Clinc because they share our vision for modernizing the consumer banking experience,” shared Clinc CEO Jason Mars. “Teaming up with Enacomm will help us to empower a greater number of smaller financial institutions, like community banks and credit unions, with next-generation, voice-controlled AI technology that otherwise would be out of reach.”

Numbering 83 million, Millennials form the largest generation in the U.S., according to the Census Bureau. Christopher Ma, director of the George Investments Institute at Stetson University, says Millennials “born between 1981 and 1997 are ready to take over estimated $30 trillion in wealth from baby boomers” – and they have a penchant for technology. These young adults’ expectations for omni-channel engagement have already pushed financial institutions to expand their customer interaction channels, from mobile, to wearables, to AI-based voice assistant devices. With Clinc’s technology, Enacomm will help pave the way for smaller and mid-tier financial institutions to pursue banking relationships with Millennials who share their commitment to community, by implementing the technology these digitally savvy consumers demand for a convenient, personalized customer experience.

Enacomm will be demonstrating conversational banking at Money20/20 in Las Vegas, NV, October 22-25, 2017.

Enacomm to Elevate Bank Independent Customer Experience with AI Assisted Banking

Bank Independent customers will soon be able to safely and securely access their bank account information and conduct financial transactions in real-time with only the sound of their voices. Enacomm is adding artificial intelligence (AI) assisted banking to the list of products and services it delivers to Bank Independent, which includes a hosted, dynamic interactive voice response (IVR) solution.

“AI assisted banking is a natural extension of Enacomm’s intelligent self-service solution for Bank Independent, particularly as the popularity of Alexa, Cortana, Siri and Google Home is rapidly climbing,” commented Enacomm CEO Michael Boukadakis. “Enacomm’s data analytics tool (4CAST) is already plugged into Bank Independent’s core provider making individualized, intelligent customer voice interactions via speech-activated assistant devices immediately possible.”

Enacomm’s products and services work with financial institutions’ core providers. Bank Independent’s adoption of AI assisted banking will further integrate with its existing use of ViA®, a powerful analytics tool that improves the IVR experience, as well as an Enacomm-hosted dashboard that maximizes IVR capabilities and unifies customer communications across all interaction channels.

“Smartly applying data intelligence helps us to meet our commitment of providing an engaging customer experience, which is key to customer satisfaction,” explained Kelly Burdette, VP Electronic Delivery at Bank Independent. “Enacomm provides us with modern technology to meet our customers’ demands for convenience and security, enhanced by advanced data analytics to exceed their expectations for personalization.”

Bank Independent will roll out Enacomm’s AI assistant banking technology in early 2018 for conducting secure transactions and accessing financial account information, allowing customers to review transactions, receive information about their checking and savings accounts, and more.

To further combat security concerns, Bank Independent will be evaluating Enacomm’s biometric technology, which can authenticate customers using the company’s secure voice biometrics solution Enacomm Voice Authentication (EVA). More reliable than fingerprint scanning, EVA enables real-time member identification with a 99.99% success rate and adds the most crucial security layer for multi-factor authentication. In combination with EVA, Enacomm uses a custom security code to prevent unauthorized voice access. All transactions are encrypted and no one – not even the cloud providers of the Virtual Personal Assistants – can access them.

“Enacomm is excited to give Bank Independent customers another preferred channel to quickly and easily find answers to their simple questions,” added Boukadakis. “This allows customer service representatives, in person and by phone, to focus more on the customer and create deeper relationships.”

Enacomm will be demoing AI assisted banking at Booth 446 at JAC 2017, the Jack (Henry) Annual Conference in Nashville, TN, October 16-19, 2017.

Enacomm Introduces Credit Unions to Virtual Personal Assistant Banking at Corelation Client Conference 2017

Credit union members can now securely access their financial information in real-time and safely conduct almost any financial transaction with popular Virtual Personal Assistants (VPAs), using only the sound of their voice. Enacomm this week presented VPA personal banking at the Corelation Client Conference 2017 in San Diego.

VPAs are rapidly growing in popularity with Americans. According to eMarketer’s “first forecast on users of digital assistants, such as Siri, and voice-enabled speakers, like Amazon Echo (http://bit.ly/2qgRK46)”:

  • “This year, 35.6 million Americans will use a voice-activated assistant device at least once a month. That’s a jump of 128.9% over last year.”
  • “Amazon’s Echo speaker will have 70.6% of users.” Google Home will have “23.8% of the market.”
  • “eMarketer expects usage [of virtual assistants, ‘the actual software inside various devices’] will grow 23.1% in 2017. This category includes Amazon’s Alexa, Apple’s Siri, Google Now and Microsoft’s Cortana.”

Digital personal assistants provide hands-free voice-control for many devices and services – from ordering a pizza to summoning a car – using “skills” created by users or developers. Now users can access their banks and credit unions to conduct a range of financial transactions. Alleviating security concerns, Enacomm’s VPA skills allows customers to authenticate using the company’s secure voice biometrics solution Enacomm Voice Authentication (EVA).

“Offering the convenience of VPA personal banking is a competitive advantage for credit unions,” commented Michael Boukadakis, CEO of Enacomm, who is in attendance at the Corelation Client Conference. “The ability to manage your money using a digital personal assistant elevates the consumer experience, exceeding the expectations of high-value, often on-the-go members without increasing risk.”

More reliable than fingerprint scanning, EVA enables real-time member identification with a 99.99% success rate and adds the most crucial security layer for multi-factor authentication. In combination with EVA, Enacomm uses a custom security code to prevent unauthorized voice access. All transactions are encrypted and no one – not even the cloud providers of the VPAs – can access them.

Voice personal assistants are particularly useful for retrieving information. Rather than searching through multiple screens, users can simply ask a question, whether related to account information or a credit union’s products and services. VPAs with EVA voice biometric authentication will also save financial institutions time and money by making it easy for customers and members to solve simple problems, such as activating a new card, without relying on customer service representatives, in person or by phone.

Using Enacomm’s VPA skills, properly authenticated users can confidently conduct secure credit union transactions and access financial account information, from making payments to checking credit card balances, reviewing transactions, and receiving information about their checking and savings accounts. For example, the member simply says, “[VPA Name], ask ‘my credit union’ for my recent checking account transactions,” and the VPA handles the rest, requesting the necessary authentications and issuing appropriate confirmations.

“Credit unions can now be confident that voice personal assistants are safe for personal banking – today, members can authenticate with their voices, without having to say both their PINs and account numbers out loud,” explained Mike Kirk, Vice President of Financial Services for Enacomm, who is also at the Corelation Client Conference to help credit unions advance their technology offerings. “Credit unions don’t need to rival the largest financial institutions in size to stay on the leading edge of technology. Offering safe, voice-enabled personal assistant banking is a powerful way for credit unions to compete on the technology front and win the loyalty of new and longtime members.”

For more information on VPA personal banking, click here.