OCBC Bank is the first in Singapore to launch artificial intelligence (AI) powered voice banking in collaboration with Google. With Google Home and Google Home Mini launched in Singapore, anyone can now speak to the Google Assistant – on a smartphone or a Google Home device – to initiate a conversation about OCBC Bank’s services. These services range from planning for retirement or a new home to saving for a child’s education, getting the latest financial market updates, and more.
At the forefront of voice-powered banking the proliferation of digital voice assistants is tipped to impact the consumer technology market this year. A 2018 Digital Consumer Survey by Accenture of 21,000 online consumers in 19 countries, including Singapore, indicates yearon-year growth of stand-alone digital voice assistants will increase 50 per cent in 2018, suggesting consumers are increasingly comfortable talking to digital voice assistants and smart home devices.
The Google Assistant will provide consumers with another self-service digital channel to interact with OCBC Bank that is convenient and embedded in consumers’ lives. Consumers can pose general banking questions to the Google Assistant at any time of the day to get instant responses. This complements other self-service digital channels such as AI-powered chatbot ‘Emma’, which was launched in 2017 and specialises in answering home and renovation loan queries on the OCBC Bank website in an intelligent, humanlike way.
OCBC Bank remains the only bank in Singapore to offer voice-based banking on digital voice assistants as a medium for customer interaction and engagement. OCBC Bank has been leading the financial industry in rolling out numerous voice and conversational banking innovations for the convenience of customers. Voice-powered technology has been deployed across the bank since October 2016, when OCBC Bank was the first in Singapore to enable customers to initiate e-payments using Apple’s Siri voice assistant. In October 2017, OCBC Bank was again first in Singapore to let business banking customers check their account balances and make funds transfers using just their voice via Siri. This was extended to retail banking customers in February 2018. OCBC Bank will continue to innovate and add more banking services – payments and account balance enquiries, which require more secure access and authentication – to expand OCBC Bank’s services via digital voice assistants, in partnership with technology companies.
Mr Aditya Gupta, Head of E-Business Singapore said: “This is the new digital – conversational, smarter and simpler access to banking. For our customers to be able to interact with OCBC services by simply speaking to AI assistants on their smartphones and smart home devices is an exciting development, and an important one as we shape the bank of the future. We are the first bank in Singapore to collaborate with Google on this game-changing service, and will continue to embed ourselves in consumers’ lives using voice-powered AI tools, which will be able to answer more questions and perform more tasks for OCBC customers over time.”
Re-disseminated by The Asian Banker