Each month, over two million banking transactions and services are performed using the OCBC Mobile Banking app. Since 19 August 2019, the app has offered an AI-powered voice-based virtual assistant – which has helped with over 20,000 requests made via voice. In half of these requests, the customer was seeking information about spending categories and budgets; another 30 per cent concerned past banking transactions. Other mobile banking services that were performed using voice included locating ATMs, paying bills and changing banking PINs. The new voice-activated banking service, which was developed and trained over 13 months and is called the OCBC Banking Assistant, 'lives' in the OCBC Mobile Banking app.
It appears that asking your phone assistant for your bank account will soon be a reality. Samsung recently partnered with three of South Korea's largest banks to make voice command banking a reality for South Korean users. Bixby -- which is shipped with the Samsung Galaxy S8 -- can make financial transactions by voice command via Samsung Pay and Samsung Pass, Samsung's answer to Touch ID. It's a concept that's similar to the partnership Amazon made with Virginia-based Capital One -- where Capital One customers could be able to check their account balances, recent transactions, and even pay bills just by speaking to Alexa. The prevalence of personal and home assistants mean that banks can find a cheaper and better option by piggy-backing on Alexa, Siri or Bixby, since the technology to support voice-activated banking is already built into smartphones.
SINGAPORE (Sept 10): Move over, Siri. Here comes OCBC with its own artificial intelligence digital assistant. In a first for Singapore, customers of OCBC Bank can now pay their bills, check account transactions and track expenses by talking to their phones. The new voice-activated banking service, called OCBC Banking Assistant, was developed and trained over 13 months. It has been taught how customers in Singapore speak.
How can your organization keep up with the pace of voice-first application development? If you follow technology news, you can't miss the new trend of conversational user interfaces (UI), which includes the Amazon Alexa, Google Home, Facebook Messenger bots and digital intelligent assistants. The voice-first world of conversational interfaces is booming, and many banks and credit unions want to be part of the revolution. But can banks and credit unions allow themselves to fall behind the voice-first curve? Reports show that the majority of consumers are aware of conversational UI services.