Don’t mute voice banking

New Fiserv study provides guidance on consumer interest and likely feature adoption.

Think about that last business lunch you attended. We are accustomed to everyone occasionally staring at their phone during the meal, but this last time around, did anyone activate a voice assistant to search for something? If not, they probably will at a future meeting.

Voice-activated assistants are quickly becoming mainstream. While Apple led the field with the introduction of Siri on the iPhone, Amazon and Google have made interacting with a voice interface ubiquitous through affordable, multifunctional smart speakers that are now in millions of homes. With rapid innovation in artificial intelligence and voice and speech recognition technologies, voice capabilities will become standard features in many devices, apps and services we use every day.

As market penetration of these devices and assistants continues, we will see a fundamental adaptation (note, not evolution) in the way people interact with technology. Credit unions that are future-first and technology-minded, in particular, need to be ready to jump into voice banking when the time is right.


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