The use of voice assistants in the financial services sector will take ease, convenience, and personalization to a whole new level by providing customers accurate information in a secure manner.

‘Hey Siri’, ‘Ok Google’, ‘Hey Alexa’ — these are phrases we’ve gotten used to hearing more and more of every day. That’s because voice assistants are everywhere. They have become an important part of smart devices, and its adoption and usage are growing rapidly. In the USA alone, about 46 percent of individuals use voice assistants for some task or the other. And the increasing use of voice assistants is justified as they have highly eased interactions with smart devices to gather information or to get a task done. Financial institutions can capitalize on the technology to improve their services, increase user engagement, and ultimately increase revenue. But first, let’s have a look at what raised the need for using voice assistants in finance.

Voice Assistants Provide Convenience and Personalization in Finance

The banking, financial services, and insurance(BFSI) sector is faced with regulatory issues, demand for convenient and personalized services, and high competition. Of these, providing customers convenient, personalized, and secure experiences has gained importance in recent years. As individuals have access to technologies at their fingertips, their usage has increased significantly. And the expectation of services that can be availed through these…

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