Most of us are aware of voice-enabled consumer products, such as Apple’s Siri, Amazon’s Echo, and Amazon’s Fire TV Stick. But, there’s another type of product that’s leveraging our voices to make life easier. And there’s a good chance you’re already using it. If not, it’s just a free download away: Your bank’s mobile app.
Meet voice banking.
Good UX Means Good Business
In a world where technology is rapidly advancing and user expectations are rising, it’s no longer enough to have an average user experience; to delight your users and surpass your competition you must strive for the exceptional.
Voice banking is a Siri-like technology that enables customers to conduct common tasks, such as ask questions about their transaction, all via a mobile app.
According to the Financial Times, Santander, a well-respected global bank with more than 100 million customers, is the most recent bank to join the voice banking trend. With its new SmartBank app, iPhone users in the U.K. can ask:
- How much money they’ve already spent (e.g., How much did I spend last week?)
- For a list of transactions (e.g., Show transactions since Tuesday.)
- What they’ve spent at different retailers
- Where they’ve spent the most money and how much cashback they’ve received on their card
- How much they spent on holidays
By the end of 2016, Santander says it plans to add more functionality to the app, giving users the ability to make payments, set alerts, and report lost or stolen cards.
With mobile banking quickly becoming more popular than online banking (Satander experienced a 48% jump in the number of mobile app users within the last two years), financial institutions are flocking to new digital methods that enable customers to be more efficient and, ultimately, more satisfied.