First Hawaiian Bank is using Voice Banking: Amazon Alexa from Fiserv to allow customers to check balances and access transaction information.
Image: Amazon's Alexa to power First Hawaiian Bank's voice banking service. Photo: Courtesy of Rahul Chakraborty/Unsplash.
The voice service is claimed to be the first of its kind in the state and will be very convenient for customers to interact with their bank accounts through Alexa.
The service will be available for First Hawaiian Bank’s customers from this month and the bank will evaluate additional capabilities based on customer interest and demand and use of voice banking.
First Hawaiian Bank president and chief operating officer Eric Yeaman said: “Our customers want the freedom to choose how they interact with us. We have been working with Fiserv for several years to enhance our digital services and empower our customers with a wider range of choices in banking convenience.
“With voice-driven technology playing a bigger role in people’s lives, the time was right to introduce voice banking into that mix.”
Fiserv quoted from its Expectations & Experiences consumer trends survey, saying that 57% of consumers used voice-activated capabilities on a device in the past year. Out of these, 17% conducted banking functions using voice in the preceding month, including 26% of millennials (ages 18-37) and 24% of urban consumers.
The survey claims that voice banking users are highly engaged, using the capabilities more than 11 times per month on average.
The company emphasizes natural language processing, which lets consumers use intuitive interactions to manage their bank accounts, as they speak in conversation.
Once, the skill is open, instead of asking a set of specific questions, bank customer can ask direct questions such as “Alexa, what is my checking account balance?” or, “Alexa, what are my recent transactions?”
Fiserv digital banking president Kevin Schultz said: “As a customer-focused bank, First Hawaiian has earned a reputation for exceptional service. Voice banking is another way the bank is expanding that spirit of service and connecting with customers through intelligent interactions that reflect how people live today.”
Back in 2015, First Hawaiian Bank partnered with Fiserv to update and add solutions for online and mobile banking and payments, emphasizing on offering unified experience across all the digital channels.