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OK Google, what is the future of voice in banking?

Author

Listed:
  • Moysan, Yvon

    (IESEG School of Management, France)

Abstract

The adoption of voice and the multiplication of use cases in the banking sector are encouraged by the emergence of new technologies that have reached maturity (artificial intelligence (AI), voice synthesis, voice biometrics, etc) and by the expansion of the market for connected devices (smartphone, watch, speakerphone, etc). USA, India and China are among the leading markets. In the USA, roughly 1 in 4 adults now owns a smart speaker. In India and China, nearly 80 per cent of their populations have adopted voice technology. The banking and insurance sectors have several players in the field of digital voice technology, including American Express, Capital One, JP Morgan and Bank of America. This paper discusses two strategies which are used by these actors: the first is to offer its services on a new device, whereas the second is to create a virtual assistant with a real identity.

Suggested Citation

  • Moysan, Yvon, 2021. "OK Google, what is the future of voice in banking?," Journal of Digital Banking, Henry Stewart Publications, vol. 6(1), pages 66-71, June.
    • Handle: RePEc:aza:jdb000:y:2021:v:6:i:1:p:66-71
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    More about this item

    Keywords

    Google Home; Amazon Echo; Alexa; voice banking;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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