Speech banking here
Standard Bank (SBK) customers can now do hands-free banking over the telephone, thanks to a new intelligent speech recognition system – the first speech enabled banking facility in the country.
This means that Standard Bank account holders will be able to transfer funds, make payments, do prepaid airtime recharges and access statement enquiries by responding to automatic voice prompts after phoning the bank’s automated telephone banking service.
"Speech banking will allow customers to do everything internet banking does, without touching a keypad or keyboard," says Ross Moody, Manager IVR and Call Automation at Standard Bank.
Additional functions are being investigated for the future with the addition of new beneficiaries being a priority.
Preferred banking method
"Technology is increasingly playing an integral part in the way we improve our communications with customers," says Moody. "With growing numbers of banking customers demanding access 24/7 to financial information, we see phone services rapidly becoming a preferred banking method for many consumers."
The IVR system has already achieved impressive results since being installed in the bank’s call centre in Johannesburg in April of 2005, with a growth of 71% in active customers.
The inclusion of speech enabled banking is expected to add to this growth with the appeal of hands free banking.
The breakthrough is also a boon for the visually impaired and disabled.
Boon for disabled
"Standard’s telephone banking channel will be a particular boon for its disabled, elderly and visually impaired customers," says Barry Blomkamp, an outspoken champion of the visually impaired.
The service offers increased functionality with the addition of statement functionality where statements are read back to customers who can also search for specific transactions. Airtime recharges is also a popular service that has become hands free.
Customers will still have the option of using touch-tone input when noise conditions or the need for privacy prohibits voice input.
"Speech banking is a vital channel in the bank’s quest to provide anytime, anywhere banking and augments our multi-channel approach, which includes physical branches, ATMs, internet and mobile," said Moody.
"The application of speech recognition improves our service offering in a number of ways. It opens up new self service opportunities, it expands our ability to service customers after-hours, improves automation rates and shortens call duration times."
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