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Voice-controlled AI For Banking

With the introduction of AI voice assistants, the banking industry will experience a tremendous improvement in user interaction within their mobile apps, allowing them to conveniently check their balance, make P2P transactions or schedule bank transfers.

We’ll see more advances in specific areas such as the process of interpreting sign language and translating it to text or voice. This will greatly impact the community of people with disabilities and allow for a seamless banking experience.

Over the next couple of quarters, voice-based platforms will allow FinTech start-ups to capitalize on their nimble advantage to drive transformational customer experiences. Existing banking needs time to follow.

The banks will be providing voice-powered AI systems to allow consumers to perform a variety of tasks such as checking balances, transferring funds and paying bills.

What’s more convenient than opening my bank’s mobile app and searching for something specific? Typing it to my bank’s chatbot directly. And more convenient than that? Asking a question out loud for Alexa to answer.

Artificial intelligence and voice controlled biometric identification systems will enable banks to provide voice-driven payments, transfers and even financial advice, thus reducing customer effort and personalizing the digital customer experience.