Avaloq clients now have access to voice and speech recognition solutions from Spitch. The speech interface solution was jointly developed by the two companies in close partnership. A prototype was first presented at the Avaloq Community Conference 2018 and the turnkey solution will soon be available to Avaloq clients on the company's Avaloq Software Exchange platform.
The solution can identify a person on the phone by their spoken name (who is speaking), verify the identity of the person using voice biometrics, without having to provide a password. It also has the ability to translate every spoken word into textual data during live conversations (even into Swiss dialects). It makes a significant contribution to completely automate processes, where spoken language is used, thus reducing costs and increasing client satisfaction.
Voice and speech recognition solutions in strong upswing
Voice and speech recognition solutions are currently in a strong upswing. Among others, this trend is documented by figures from Google, which show that 25% of search queries in the USA are already made by speech input. Studies assume that by 2020 about half of the analytical searches will be language-based in the language of each country. Spitch's mature solutions are excellently positioned to meet the rapidly growing demand for voice and speech recognition in virtually every area. Spitch is also the first provider to offer corporate solutions in various Swiss dialects.
Jürg Schleier, Country Manager DACH at Spitch, describes the partnership with Avaloq as another important milestone for his company: "Partnering with Avaloq to develop a speech interface solution for Avaloq clients clearly highlights the growing importance of conversational user interfaces. It is expected that the next generation of consumers will be able to fully operate their devices with speech input. Among other things, this will change the client interactions of financial and insurance service providers sustainably, and not only there. Our solutions will make a significant contribution to achieving client satisfaction with a concomitant cost reduction for the provider."
Thomas Beck, CTO of Avaloq Group, says: "The offer of speech-driven service offerings is experiencing an increasingly rapid spread in banking. The partnership with Spitch enables us soon to offer our clients state-of-the-art voice banking solutions."
Spitch AG Overview
Spitch is an established Swiss provider of solutions in automated speech recognition (ASR), voice user interfaces (VUI) and natural language data analytics. At the heart of Spitch’s mission is the provision of accurate natural language processing as part of artificial intelligence (AI) for improving customer satisfaction and reducing costs. Spitch’s technologies enable the automation of knowledge management, addressing one of the most promising IT trends of the near future. In addition to numerous languages offered, Spitch is the first provider of business solutions in the various Swiss dialects. In addition to high accuracy and rich functionality, Spitch also offers flexible, customer-centric models and a tailor-made approach focused on delivering visible business benefits through voice-driven services. The development team of Spitch AG has over 50 years of R&D experience in voice technologies (Spoken Language Technology, SLT), including automatic speech recognition (ASR), voice biometrics (VB), information retrieval (IR) and natural language processing (NLP). Spitch offers these solutions for platforms of the most widely known manufacturers worldwide, which can also be customized according to customer requirements. The company is headquartered in Zurich. Spitch has offices in Milan and London. driven by voice!