An article recently published by Speech Technology Magazine explores how financial institutions have used speech technology for the past two decades, as well as what’s on the horizon. From the piece:
Many other industries have looked to financial firms as leaders in customer care and service, and with good reason: Retail banks, investment firms, and credit card providers have consistently been at the forefront of technology-driven innovations that have centered around telephone, mobile, and online interactions.
The story, “Banks Can Use Speech to Personalize Interactions,” points out that banks were at the forefront of interactive voice response (IVR) system adoption. Card activation, balance inquiry, PIN and password changes, account enrollment, address changes, branch and ATM locations, funds transfers, and reporting lost or stolen cards are all named as uses for the technology across the customer life cycle. To be proactive and help foster customer loyalty, banks use IVR technology to reach out to customers with card activation reminders, low balance alerts and fraud alerts, as well.
The article goes on to shed light on how financial institutions are advancing beyond basic IVR menus. Used as an example of a cutting-edge point solution, Banking Up teaming up with Enacomm (see our press release on the partnership here) is highlighted to show how financial institutions are using speech technology to increase personalization while maintaining a sense of security and controlling costs. From the story:
Banking Up, a personal finance platform that enables banks and businesses to provide customers with a mobile alternative to traditional checking accounts, has enlisted Enacomm, a provider of voice processing infrastructure, applications, and services, to deploy a hosted, self-service IVR. The platform is further supported by Enacomm’s analytics software, allowing Banking Up’s internal database to be used to create intelligent interactions. An adaptive decisioning engine driven by real-time access to customer data engages patrons with unique, personalized exchanges.
Find the whole Speech Technology Magazine article here. And give us a call at 877-860-0025 to learn how Enacomm can help your organization – financial institution or otherwise – evolve its customer care with technology that harnesses dynamic decisioning to create intelligent interactions.