AI Speech Recognition: What is it and how it Works
Artificial Intelligence, Speech Recognition

AI Speech Recognition: What is it and how it Works

All you need to know about AI Speech Recognition in 2022

AI Speech Recognition is a technology that allows computers to understand human speech. It’s a feature that has been around for decades, but it has become increasingly sophisticated and accurate in recent years.

Speech recognition works by using artificial intelligence to recognize the words that a person speaks and then translate those words into text. It’s important to note that this technology is still in its infancy but improving rapidly.

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Why choose Voice Biometrics over passwords in the Banking industry
Artificial Intelligence, Voice Biometrics

Why choose Voice Biometrics over passwords in the Banking industry

What is Voice Biometrics in Banking

Voice biometrics is a method of recognizing individuals based on their voice patterns. It provides an additional layer of security to authenticate someone before they are allowed access to any system or application.

In the banking industry, voice biometrics is used to secure access to applications and data. It is also used for customer service and to improve the overall customer experience.

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armour365: Highly secure & language independent voice authentication
Artificial Intelligence, Voice Biometrics

armour365: Highly secure & language independent voice authentication

What Is armour365

armour365 is a voice biometrics software by Gnani.ai that has innovative features to address the growing threats of fraud and cybercrime. armour365 Voice Biometrics is a voice analytics software solution that works in conjunction with multiple contact center platforms and chat applications.

The software is designed with various advanced features, including an “anti-spoof layer” and “replay attack detection.” With “one enrollment,” armour365 offers exceptional security and customer experience for industries like Contact Centers, Banks, and Defense.

From securing customer authentication across all channels to safeguarding access to sensitive devices, armour365 is an increasingly robust solution.

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Why Voice Biometrics is becoming the leading choice for Authentication
Artificial Intelligence, Voice Biometrics, Voice Technology

Why Voice Biometrics is becoming the leading choice for Authentication

Everything You Should Know About Voice Biometrics Authentication

Voice biometrics is the identification of a person by the properties of their voice. In a typical implementation, the speaker recites an array of words or phrases stored in an electronic database. The system then compares these test utterances with previously collected from known individuals.

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How Can Businesses Utilize Conversational AI To Scale Rapidly
Artificial Intelligence, Conversational AI

How Can Businesses Utilize Conversational AI To Scale Rapidly

Conversational AI: Meaning, Benefits & Business Use Cases

Conversational AI allows computers to converse with humans in natural language. This has given rise to exciting possibilities for businesses and consumers alike. But how exactly does it work? What benefits, and how can business owners leverage it?

Benefits of Conversational AI

Conversational AI is a boon for businesses of all sizes. It allows them to quickly scale operations and reduce costs while improving customer experiences and driving revenue growth. Here are some of the primary benefits of conversational AI:

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digital banking customer experience trends
Banking and Insurance, Conversational AI

Trends in Digital Banking CX & The Future Of Digital Banking With Voice AI

As the pandemic fades into public memory, the impact it leaves in terms of the adoption of digital banking is lasting. By 2026, half the global population will be using digital banking. The newer generations of customers are very comfortable with AI and apps. With many new models introduced by non-traditional entrants to the financial sector, banks have stiff competition and must adopt some customer experience trends.

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conversational ai reduce banking operational cost
Banking and Insurance, Conversational AI

How Conversational AI Can Reduce Banking Operational Costs & Improve Customer-centric Service

Banks are under more pressure than ever due to increasing competition, higher customer expectations, and new challenges posed by the changing economic order. They have to remake themselves to stay relevant and competitive. Therefore, banks look for ways to manage costs optimally. Digital transformation has brought new avenues to reduce banking operational costs while improving service delivery and making it more consumer-centric.

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conversational ai in retail banking featured image
Banking and Insurance, Conversational AI

How Conversational AI Can Help Grow and Retain Customers in Retail Banking

Improving the responsiveness of customer support and providing frictionless & convenient digital services have been two long-standing challenges for the retail banking segment. Since the banking and financial services industry (BFSI) relies heavily on trust and consumer goodwill, innovations like conversational AI and voicebots in banking find rapid adoption. Most banks know how applications of AI or a voicebot in retail banking can provide significant benefits for the industry and make it more interactive, faster, and customer-centric.

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Conversational AI

Top Five Factual Conversational AI In Insurance And Banking Use Cases

The BFSI has been at the forefront of tech adoption. Now we can transfer money, see our account details, book a policy, etc., with just a tap of a button. BFSI sector is not only investing a lot in the transaction process but also investing millions of dollars to improve customer support services and security.; in these investments, Artificial Intelligence holds a major chunk of the share.

According to Allied Market Research, the valuation of AI in BFSI was pegged at USD 17.765 billion in 2018 and is expected to reach USD 247.367 billion by 2026 – registering a CAGR of a whopping 38.0%! This exponential growth points towards the discovery of practical and viable use cases of conversational AI in the sector, which we will be exploring in the following segment.

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voice biometrics in banking featured image
Voice Biometrics

Voice Biometrics in Banking

Why Voice Biometrics In Banking Is The Future Of Online Banking

Banks have to constantly stay on top of the best methods for authentication to combat online fraud. Traditionally, banks have used knowledge-based authentication methods like PINs, passwords, and one-time passwords. Now, the demand for contactless and seamless technologies has permeated even to banking security, especially after the COVID-19 pandemic’s impact. Voice biometrics in banking is a promising online banking solution, above and beyond the retina and fingerprint scanners that require people’s physical presence.

In this post, we trace why traditional authentication methods are falling short in the post-COVID world, and the various avenues opened up in online banking by the adoption of voice biometrics solutions. From fraud prevention to improved customer experience, the benefits are manifold.

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