Santander is launching voice-enabled banking to allow customers to keep track of their spending, but is this really the Siri of personal finance? The experts say ‘not yet, but watch this space’…
The bank says the technology it is using differs from voice biometrics, which only enables access to a customer’s accounts by using their voice as a password.
The first phase of the launch, is aimed at helping customers get to grips with the basic features, by providing the ability to ask about their card spend.
iOS users of the SmartBank app can ask simple questions about their card spend such as:
How much did I spend on New Year’s Eve?
Show my transactions for the last week
How much did I spend on Café Nero this month?
Where did I spend the most money this month?
The second, due for release later this year, will enable customers to fully service their accounts. This includes advanced features such as the ability to make payments, report lost cards, set up account alerts and answer a broad range of questions about spend.
Nathan Bostock, chief executive of Santander UK says: “Technology is rapidly changing how customers bank and pay on the move. We want banking to be simple, personal and fair and we believe technology, like voice banking, will play a transformational role in the way we add value by creating more choice and convenience for our customers.”
The technology is provided by Nuance Communications, a leading provider of voice and language solutions.
Damien Fahy, director of MoneytotheMasses,com, says: “While I applaud innovation in finance, users shouldn’t be expecting the ‘Siri’ of the banking world due to its limited functionality.
“It needs to evolve beyond a marketing gimmick and be driven by necessity and a desire to improve customer experience.
“Otherwise all it will do is allow consumers to actually hear the computer say ‘no’.”