Banking
Voice is the new frontier for growth and innovation in consumer banking Agility is not something typically associated with traditional, largescale financial services organisations in the consumer banking sector. The reason for this is relatively clear: these organisations, operating in highly regulated markets, are often lumbered with complex legacy infrastructures and are therefore slower to implement technologies and processes that might make them more nimble in the face of uncertainty.
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ortunately for the consumer banking sector, things are starting to change. The pandemic acted as the required nudge for many consumer banks to begin investing in technologies that would make them more responsive to the ever-changing needs of the customer. Nowhere was this clearer than in the area of conversational data, unlocked by voice capture programmes and AI-driven analytics. This technology became something of a necessity for many consumer facing banks with lockdowns implemented, working arrangements switching to hybrid, and
customer communications thrown into a state of flux. Voice capture became a lifeline for many banks forced to maintain in-office compliance standards in a world of remote working. However, as value from investment in voice capture and the power of conversational data was realised, many innovative consumer banks have started to recognise its potential elsewhere. Whilst this innovation may have been prompted by something beyond their control, many banks have come to see the newfound flexibility and improvement in customer experience.
