back Back

4 ways AI-based voice automation is driving business value for FinTechs

By Leandra Monteiro

May 17, 2021

  • 4
  • India
Share

FinTech, India, AI, voice automation, FinTechsThe imposition of guidelines by government and the need to social distance is accelerating the production of new technologies that can provide safety. Due to which, companies have invested in automation through Artificial Intelligence to expedite remote working, enhance the user and customer experience, and decrease costs. It wouldn’t be wrong to say that very soon the rise of AI will usher significant changes in businesses and industries.

It’s now essential for entrepreneurs now to be aware of the updates that AI makes to the business landscape. As more and more interactions are taking place through voice commands, the market space is becoming more competitive. In the fight of “the survival of the fittest,” one needs to recognize and understand the impact of speech recognition on businesses now, especially its application in voice search.

Mr. Mausam Patel, Director of VSpeech.ai shared, “The connection between machines and humans, which we had been seeing and dreaming about a few decades ago has been fictional. But today, the fact is real and incredible. Voice-controlled technology is gaining popularity and has many advantages, such as saving a lot of time, being easy to use, comfortable, and multi-tasking. At VSpeech.ai our services facilitate solving complex business problems by providing end-to-end high quality voice automation services.”

Listed below are 4 ways how AI -based Voice Automation technologies are driving business value for FinTech enterprises:

Voice Automation via Text to Speech technology, available in regional languages: AI -based end-to-end Voice automation offers a wide range of solutions when it comes to FinTech operations such as multi-lingual text-to-speech technology. The service helps the company to overcome the language barrier when connecting to the end-users with up to 14 major & regional Indian languages and more than 10 foreign languages available. The offering facilitates phone calls to the customers, not just in their favorable language, but also automated as it is the most effective way to inform customers about their dues, payments, EMIs, etc.

Automated VocieBots: In such times of crisis, where we need as less human intervention as it can be, FinTech industry is facing backlogs as there are fewer professionals to cater customer queries. Automated VoiceBots can simply process and have queries such as Balance enquiry, updating contact information, and more covered offering an ease not just to customers but to the operations of the company as well. VoiceBots are one of the most effective ways for the companies dealing in Finance and technology to provide services to their customers around the clock by setting up these self-troubleshoot bots in the system.

Speech Analysis: Handling customer grievances and queries with voice support is a usual affair in FinTech Industry. End-to-end Voice Automation technology offers a complete system that helps companies monitor all the important data using Artificial Technology and aggregate all the useful information in one place to assist higher authorities in decision-making.

For example; Reason customers want to switch, Competition analysis, Customer feedbacks, etc. AI-based Voice automation offers more than 25 features within the dashboard that can monitor all the data and predict KYI required to key FinTech decisions.

Voice Biomatic: This offering caters to saving the periodic costs that goes in verification of users by enquiring DOB, address, email ID, etc. on voice support. The repetitive confirmation can be a big overhead for enterprise customers. This can be avoided by Voice Biomatic solutions where a user can be confirmed by just following instructions as simple as speaking 5 sentences and then, identified by AI-based systems. System technically identifies the customer by their voice inputs and further operates to solve the query preventing huge cost for FinTechs.

ALSO READ: Applications of Artificial Intelligence In Banking 2020

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Article

May 17, 2021

OIFC’s Khedmah mobile app eases digital bill payments in Oman

Read More
Next Article

May 17, 2021

Tradeteq appoints Lenna Russ as the new Chief Revenue Officer

Read More

IBSi Prime News

Embedded Finance

September 24, 2021

4

European brands increasingly looking at embedded finance, but barriers still exist

Read More
  • Daily in-depth news analysis
  • Weekly chart curated via IBSi research
  • Exclusive weekly Financial Technology use case
Subscribe to Prime

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

September 24, 2021

Colt Technology Services enriches the digital experience with Blue Planet

Read More

September 24, 2021

Patch partnered with Ascenda to make banking greener

Read More

September 24, 2021

Revere Securities announces new Senior Managing Director

Read More

Related Reports

Pages

Bank-wide
Core Banking Market Dynamics Report 2021

£2,000 / year

Know More

Pages

Market Reports
US Financial Services Technology Report 2021

£1,500 / year

Know More

Pages

Retail Banking
Core Banking Market Dynamics Report 2021

£2,000 / year

Know More

Pages

Wealth Management
Wealth Management & Private Banking Systems Report 2021

£1,500 / year

Know More

Pages

Wholesale Banking
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More