First Union is to use SpeechWorks technology to deploy a phone-based speech system that will provide retail and investment customers with spoken account information and bank transaction capabilities. The US bank has purchased 3700 ports of SpeechWorks software in readiness for a projected fourth quarter launch.
First Union's current touch-tone system handles more than 110 million calls annually. With the new speech-activated phone system, the bank expects to reduce call duration while improving the customer experience.
When customers call the new system, an automated voice will greet and verify them, ask a few questions related to their bank accounts and provide answers to natural language queries. For example, a customer might say, "loan balance," or conduct transactions such as, "transfer $200 from savings to checking."
The SpeechWorks technology will run on First Union's existing platform from InterVoice-Brite.