Independent Banker - March 2019 - 38
PORTFOLIO
Putting a voice to digital
banking
Technology
Some community banks are
dipping their toes in voice
banking, which allows customers the ease of
banking directly through their smartphone or
smart home device-no hands necessary. Is
it time your bank considered this emerging
platform? By Colleen Morrison
" A
lexa, pay my electric bill. " And just like
that, your payment is made.
OK, there may be a few more steps, but the
payment is completed without you having to log
in on a mobile device or computer. But, more
importantly, this voice-activated transaction may
occur while you're preparing dinner or sitting in
traffic or doing any number of other activities.
In today's fast-paced, multitasking society, voice
banking may offer a true lifestyle fit.
Today, nearly half of all Americans have access
38 Q ICBA Independent Banker Q March 2019
Quick stat
20%
of U.S. adults,
or 47.3 million
people, have
access to a smart
speaker device
like the Amazon
Echo or Google
Home
Source: Voicebot.ai
to digital voice assistants, including those built
into smartphones. In addition, 47.3 million U.S.
adults are users of smart speaker devices like
Amazon's Echo or Google Home, and that number
is growing. In the third quarter of 2018 alone,
19.7 million smart speakers were purchased, a
137 percent increase over the previous year.
These smart solutions are finding their way
into banking. There are plentiful opportunities
for banks to cost-effectively explore voice banking
on a scaled basis-from simple products that
check account balances to more focused technologies
that support payments.
For example, FIS was recognized as " Best
of Challenge " for its MyBanker product at the
2018 PYMNTS.com Voice Challenge with Amazon
Alexa. Fiserv offers Voice Banking: Amazon
Alexa to enable customers to check balances and
access transaction information. Fintech company
http://www.PYMNTS.com
http://www.Voicebot.ai
Independent Banker - March 2019
Table of Contents for the Digital Edition of Independent Banker - March 2019
Table of Contents
Independent Banker - March 2019 - Intro
Independent Banker - March 2019 - Cover1
Independent Banker - March 2019 - Cover2
Independent Banker - March 2019 - Table of Contents
Independent Banker - March 2019 - 2
Independent Banker - March 2019 - 3
Independent Banker - March 2019 - 4
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Independent Banker - March 2019 - Cover3
Independent Banker - March 2019 - Cover4
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