Voice Payments, the New Frontier!

A shift comes around every 10 years or so. In the 90s it was the internet, and in the early 2000s it was mobile. Now it’s voice, and it will have a major impact on how we bank in the future. Prior to the pandemic, there had been experimentation in voice payments, but the pandemic took a big eraser to previous payment habits and routines and shifted them towards contactless, including voice. Voice assistants have transformed where and how consumers make payments; they offer a straightforward, accessible user experience. Unlike screen enabled experiences, where users click their way through screens, voice has enabled users to bypass screens altogether. Voice is altering traditional banking interactions between banks and consumers because it is frictionless and natural. Once set up, all you need to do is sit back and speak. It even has the ability to learn behaviors and provide recommendations that are personalized to specific needs. Learn how voice is helping financial institutions provide solutions that are tailored to customers’ needs and lifestyles, and how it’s improving internal processes while reducing time spent on repetitive mundane tasks.   

Speakers:

Chris Colson, Program Director, Federal Reserve Bank of Atlanta

*This conference recording is not eligible for continuing education credits.

Tag(s): Remote Connect 2023, RC 2023