Voice technology is an artificial intelligence-based technology. It has the ability of a digital device to recognize, receive, and understand spoken commands, carry out these commands using sound input as an interface.
Banks can leverage this speech recognition technology.
As per the recent study conducted by Cognizant “The future of voice”, the banking and financial professionals were surveyed in India. According to the survey, 94% of them believed that the shift towards voice will accelerate in the future and 72% of them said voice is important for the bank’s future success.
Voice-driven technology will help the banks to provide satisfying customer service. As the technology can understand the conversational accents, dialects, intonation, linguistics this will help the banks to ensure that customer queries are handled quickly and effectively. Banks can implement this technology in the front and back end to reduce customer service costs, free branch staff and utilize them for other important work.
This is the time for banks to leverage voice-based technology for high-yielding future benefits.
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