Minnesota’s largest credit union will integrate Nuance’s voice AI to serve as a virtual assistant and biometric security for customers. Wings Financial Credit Union is part of the growing trend for financial institutions to integrate voice technology into their services, and is working with Nuance even as the developer of the AI ââplatform is currently in a 19-year acquisition. $ 7 billion by Microsoft,
The agreement with Nuance will give Wings customers access to a personalized virtual assistant for the credit union capable of answering financial questions at any time. The AI ââis connected to a call center and will transfer people to a human during office hours if the AI ââcannot answer their questions. Interaction is preserved across different channels so that someone can have a text conversation on the website and move it to a phone call. The AI ââwill present the information to a human agent or a human agent without having to start over. Wings is also taking over Nuance’s Gatekeeper, a voice biometric system. Gatekeeper uses Nance’s AI to trace and remember the sound of a person’s voice from over a thousand factors. The tool helps secure people’s accounts and limits the risk of identity theft or other fraud, even if a password or other personal information is exposed or stolen.
âWe recognize that our members’ expectations are changing; they spend more time online and interact with us primarily through audio and digital channels, âWings Financial vice president Matt Vignale said in a statement. âWe believe that Nuance’s AI technology can enhance our ability to deliver the same personalized and engaging experiences our members are accustomed to receiving when they visit our branches while simultaneously protecting them from fraudsters. “
Focus on AI
Nuance cites research showing that consumer behavior is changing rapidly in 2020, fueled in part by the COVID-19 pandemic. The demand for online interactions, including in the banking industry, has exploded. This has been evident in many banks when they develop and update their own virtual assistants. Last year, US Bank launched a voice assistant for its mobile app to allow users to complete their banking requests using conversational language and mimic the experience of talking to a bank teller. And Bank of America saw its existing virtual assistant, Erica, grow in popularity and more often around the same time. Wings also uses Nuance technology to meet these needs.
âAlmost every financial institution in the world, regardless of size or scope, is adapting to new digital transformation strategies to keep up with rapidly changing consumer demands and expectations,â said Robert Weideman, vice-president executive chairman of Nuance Enterprise. âWings Financial is part of an innovative group of organizations that recognize the value of voice biometrics and conversational AI solutions in driving growth and delighting customers.
Microsoft buys Nuance for $ 19.7 billion
Walgreens and Nuance Launch Virtual Assistant to Plan COVID-19 Vaccines
Bank of America virtual assistant Erica explodes in popularity