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The Financial Services segment consists of consumer
and commercial banks, finance companies, credit unions,
brokerage houses, and investment institutions. Information
access and transaction processes have been the driving
factors in supplying enhanced customer self-service
opportunities. This market has been an early adopter
of customer interaction technologies, recognizing the
benefits to customers of real time self-management of
financial accounts and portfolios.
The brokerage segment was one of the first
to realize the significant benefits of speech recognition
for obtaining quotes and performing financial transactions
over the telephone. The key was providing tools for
customers that they were willing to use and that gave
the caller options for conducting business. In addition,
the investment return in terms of reduced transaction
costs and customer loyalty was significant. The original
applications were oriented toward a touchtone method
of data entry, but in the past few years there has been
a migration to voice interaction through the use of
speech recognition technologies. In addition, voice
authentication is being adopted to increase the security
of access to sensitive account information and to provide
an audit trail for transactions.
Solutions for Financial Services
Account Status and Management
Allows callers
to obtain information about their accounts and to
move funds if they desire. Utilization of numerical
identifiers and passwords supplies the security
needed for these transactions. Movement of balances
between accounts, payment of bills, 401k Plan information,
and a variety of other applications are wrapped
up in this general solution category.
Branch/ATM Locator
Allows the caller
to enter a zip code or phone number to retrieve
information about branches and other services within
a particular geographical area.
Card Activator
The caller
calls a selected number, enters some numerical information
(card number, home telephone number, etc.), and
the bank or credit card is automatically activated
for use.
Investment Fund Manager
Allows the caller
to obtain information on the current balances by
account name, the number of shares owned, the net
average value of each share, the performance history
of particular funds, and to conduct transactions
between funds.
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Loan/Mortgage Information Hot Line
Provides the
caller with access to information regarding types
of loans currently being offered, rates, additional
services offered (auto trade in and price quotes,
different home mortgage options, etc.) and other
information to help them make loan decisions. Helps
answer recurring questions without tying up internal
personnel time.
Past Due Notification
If a payment
is past due, the customer can be notified proactively
to help avoid late charges and other misunderstandings.
When the call is answered, the caller is asked to
enter an identifier (SSN, account number) to ensure
the system is speaking to the appropriate person.
Upon this receipt, particular information about
the payment can be played. If no response/invalid
response is received, a general message about having
“person x” call the bank at their convenience
can be played. Callers can also be given the option
of paying the bill via credit card on the same call.
Service Requests
The caller
is able to order additional checks, copies of
account statements, and transaction forms required
for loans, etc.
Stock Transactions
With advanced speech recognition, financial institutions
have been able to implement systems that allow the
caller to speak the name or symbol of the desired
stock to obtain current market quotes, make sell/buy
transactions, and in general obtain information
that is used in financial decisions.
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