Today’s announcement with ING is setting a new standard for intelligent virtual assistants, as it becomes the first bank in Europe to launch an app that reinvents the mobile banking experience through combining a virtual assistant with voice biometrics technology.
In a small, densely-populated country like the Netherlands (population 17 million), we’ve seen a growing number of people choosing to use the Web to handle their banking. It was only a few years ago when consumer banking was still heavily paper-based – even the simplest bank transfer required a lot of paperwork and form-filling. Advancements in technology have created a major shift, allowing customers to tend to their finances without stepping into a bank. But, with the rapid adoption of smart phones, it has become clear that individuals expect to be able to handle their day to day responsibilities through their mobile phone, and businesses need to address these evolving customer expectations. Today, ING announces that they are responding to this level of expectation by giving their customers what they want- a convenient way to bank while on the go.
ING has leveraged Nuance’s Nina to debut the intelligent virtual assistant named Inge to its customers. Through leveraging Nuance’s industry leading natural language understanding (NLU), Inge is able to derive a customer’s intent and execute the appropriate transaction, all through simple, conversational interactions. This allows customers to engage with ING using natural conversation as opposed to scrolling and tapping to do things like check their balance, make transfers, or ask questions about their spending.
ING is also innovating ahead of their competition and will be introducing voice biometrics to their app in the coming months to create a mobile voice experience that is convenient and easy to use. When logging in to a mobile banking app, customers typically have to recall and type in a PIN or password on a tiny smartphone screen, often followed by a security question. ING will be rolling out Nuance’s voice biometrics technology as the method of authentication for the mobile app to replace PINs, passcodes and security questions. Previously, I used to have to type a 5 digit PIN code to access the mobile banking app. Now I just have to use my unique voiceprint and say “luister naar mijn stem en je weet wie ik ben” (“At ING my voice is my password”) in order to unlock my account.
I must say, the mobile app from ING offers an unparalleled experience, saving consumers time and frustration by allowing banking while on the go. Now the question is- what business will join the ranks of ING Netherlands next? Check out the white paper “Driving Loyalty with Virtual Assistants” below to learn more.