Digital Voice Assistants Can Check Balances, Make Transfers, Etc.
August 12, 2020
ENACOMM’s Virtual Personal Assistant (VPA) banking is now available to customers of Enterprise Bank, a $4.04 billion-asset, Lowell, Massachusetts-based institution. It is called Enterprise Bank’s Alexa skill for voice banking.
Enterprise Bank customers will now be able to use their Amazon Alexa digital voice assistants to handle many of their banking needs, such as checking balances, locating branches and ATMs, accessing transaction history, and making transfers between accounts.
“Enterprise Bank closely follows technology trends so that we can deliver the highest level of digital convenience to our customers,” said Brian Collins, Executive Vice President at Enterprise Bank. “The time is right to roll out Alexa voice banking, as there’s now a critical mass of smart speaker users—one-in-three U.S. adults.”
According to the Smart Speaker Consumer Adoption Report 2020, 87.7 million U.S. adults were using smart speakers as of January 2020, up 32% over January 2019 and 85% since January 2018. That’s 34.4% of the U.S. adult population. At the beginning of 2020, Amazon announced that there are now "hundreds of millions of Alexa-enabled devices" in customers' hands worldwide, a giant increase from the 100 million it announced in January 2019.
VPA is ENACOMM’s voice banking solution for financial institutions’ self-service users that works with Virtual Personal Assistants. Utilizing ENACOMM’s hosted systems, properly authenticated bank users can confidently conduct secure bank transactions and gain virtually full access to their financial accounts—with the sound of their voice.
Collins added, “Our goal is to deliver a technology-enriched customer experience that rivals the biggest banks while maintaining the local connection and personal relationships that consumers don’t want to lose.”
The Bottom Line
Financial Institutions May Not Quite Be Ready