The development of IVR technology is accelerating Whereas in the past pressing keys via DTMF and recorded voice menus were state-of-the-art, today artificially intelligent voice systems can understand open-worded customer requests. Nowadays polished web and app interfaces have become the norm, offering customers comfortable digital experiences with sleek visuals. But what about the voice experiences on their hotline IVRs?
The bot hype and the changed reality
Around 2015, the bot hype was at its peak. The manifold advantages of voice assistants were praised as far as the eye could see, and Alexa and friends achieved astonishing successes. But for some, the hype was accompanied by a rash desire to join the bandwagon, and companies started implementing bots with a vision that was as technically unrealistic as it was strategically misguided.
A lot has happened since then. Not only has automatic transcription made huge strides, machine language understanding has also become more accurate by far.
Open-worded IVRs work reliably, and yes-no dialogues and voice menus are no longer the industry standard.
More experienced users
But the users have also changed. Not only have they already gained experience with smart assistants and chatbots, they have also become familiar with quality systems through the extensive spread of the technology.
These systems can enable telephone transactions outside opening hours, implement features from the app and website, or allow for a quick connection to the responsible specialist through smart call routing.
In the post-bot hype reality, more and more companies are deciding to expand their customer contact omnichannel and to include voice as a cornerstone.
A robust omnichannel strategy means having a rounded pallet of web, app, and a hotline IVR that use modern standards of natural language understanding and artificial intelligence.
Advantages of Voice Banking
Thanks to Voice/Conversational Banking, online banking functions can be made available via telephone. Don’t have your computer or smartphone on you? Logging in to your online banking is a drag? No problem: a phone call is all it takes to check your account balance or order account statements – without any personnel costs.
With techniques such as NLU-based call routing, caller intents can be accurately recorded and redirected to the right staff member. This eliminates valuable time otherwise taken up by routing. Fully voicified use cases take even more work off the shoulders of call center staff.
With voice biometrics, callers can be authenticated by their voice. By enabling automated login without a password and avoiding time-consuming agent-based authentication, IVRs become safer and more efficient.
Also, fraud attempts can be better tracked through voice biometrics. For example, cross-account fraud attempts by the same person can be traced back to a voice profile.
Quality CX across channels
The online banking website is just the way you want it-- your customers are happy with your mobile app and web presence. So why shouldn't your voice UX speak for itself?