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

Yvon Moysan
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Yvon Moysan: IESEG School of Management, France

Journal of Digital Banking, 2021, vol. 6, issue 1, 66-71

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.

Keywords: Google Home; Amazon Echo; Alexa; voice banking (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2021
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