U.S. Bank is increasing its mobile banking capabilities by launching an in-app voice assistant. The in-app voice assists will allow users to manage their finances through auditory commands, where they can access information related to their account balance, bills, as well as spending history. Users can also use their voice to transfer funds by using voice commands.
The voice assistant is named The U.S. Bank Smart Assistant, and it was made possible through natural language processing technology, or NLP. NLP technology has the ability to process human speech, and differentiate intent. The technology was revealed by U.S. Bank on July 26th, which was the 30th anniversary of the Americans with Disabilities Act, which was enacted to eliminate discrimination related to disabilities.
Banking Voice Assistants
U.S. Bank is Launching an In-App Voice Assistant for Mobile Banking
Trend Themes
1. In-app Voice Assistants - The trend of in-app voice assistants in mobile banking presents opportunities for seamless and convenient financial management.
2. Natural Language Processing Technology - The trend of using natural language processing technology in voice assistants enables more accurate and intuitive banking interactions.
3. Accessible Banking Solutions - The trend of voice assistants in mobile banking contributes to more inclusive and accessible financial services for individuals with disabilities.
Industry Implications
1. Mobile Banking - The mobile banking industry can leverage in-app voice assistants to enhance user experience and attract tech-savvy customers.
2. Artificial Intelligence - The artificial intelligence industry has opportunities to innovate and improve natural language processing technology for voice assistants in banking applications.
3. Financial Technology - The financial technology industry can explore the use of voice assistants to transform traditional banking processes and improve customer engagement.