Overview
FSS Voice commerce provides banking customers with deeper, meaningful and contextual banking interactions. FSS Voice commerce is about enabling a more natural conversation between the bank and its customers.
The conversational commerce capabilities replicate the natural flow of human interaction, making customers feel comfortable while exchanging payment and banking information.
Key Capabilities
Platform independent
FSS Voice Commerce is designed to support multiple voice assistants such as Google Home, Alexa and Siri
Extensible to multiple platforms, multiple voice bots, mobile applications, web applications, third party applications
Easily interfaces
Easily interfaces with a multitude of bank’s products and services such as Retail banking, Personal Finance Management, Debit and Prepaid card management system
Security
Multi factor authentication
Reliable password protected authorizations
Tokenisation protects sensitive information
AI and NLP capabilities
Equipped with machine learning algorithms, the solution responds intelligently to voice commands enabling customers to perform banking tasks easily
Continuous learning: The solution is capable of learning continuously with ongoing transactions, broadening the bots’ understanding with time.So, the banks need to train the bots for every different set of transactions to optimize time
Seamless customer engagement
A persistent flow of information coupled with the voice bot’s built-in cognitive capabilities, helps banks ascertain customer transaction patterns and deliver services tailored to user needs and preferences
Seamless and Quick customer on-boarding
FSS voice commerce has an option to on-board customers to Voice commerce module, once on boarded customer shall be able to avail the financial and non-financial services offered by the banks by using smart voice devices
Use Cases
Banks and financial institutions can use voice technology to provide individuals with customized, personalized banking experiences to improve their customer experience.
Users can:
- Ask for bank account balances, pending payments, merchant Payments, bill Payments or deposits
- Request analysis of current financial health and leverage transaction data for predictive insights to increase savings
- Ask about transaction history and how to reallocate extra budget
- Obtain information on category-focused spending and expenses
- Make donations and transfer funds
- Recharge wallets and make credit card payments
- Customers can set limits on their credit card or debit card accounts
Voice Commerce offers an opportunity to differentiate and deliver personalized banking services.
Users can:
- Schedule and make payments to providers and credit cards
- Transfer money between accounts or deposit money
- Send money to beneficiaries using payment applications like FSS Mobile Pay or any other banks application or a third-party integrator
- Ask about transaction history with information on future or outstanding bills
Offering services through Alexa Skills or Google Assistant Actions can open new avenues for payments and banking.
Users can:
- Ask about the latest interest rates on mortgage loans and explore refinancing options
- Obtain information on small business loans and how to get access to working capital
- Ask about personal loans for major expenses or debt consolidation
Banks Can Leverage FSS Voice Commerce
Integrating the voice interaction with digital touchpoints across the customer journey
Organizations are changing their business models and product distribution or rethinking the role of the branch all in an effort to better address how consumers interact and use their financial products
Superior automatic speech recognition (ASR) of providers
Trained for higher vocabulary ranking, provides context intelligence and enables natural language processing
Speed to market
Pre-built bots help the bank to begin the Conversational Banking journey; a bot builder framework enables the bank to extend and customize bots and build new bots to meet their tactical and strategic Conversational Banking objectives
Built for banking
Enterprise-grade and purpose-built to support conversational banking.
Omnichannel support
Deployment of a single bot configuration across many channels, with centralized management capabilities
Digital API
Voice banking provides a common digital API that can be used by any channel to construct truly differentiated user experiences and offerings