Banks enhance services with Speech Voice Applications.

Nov 4, 2004 -- Citibank announced that its brokerage service received the best practice award as Best Voice Application in Germany at Voice Business' Voice Award Day 2004 in Munich, Germany. Citibank deployed this speech-activated securities trading application two years ago.
 
The solution enables bank's securities department to handle four times as many calls as was previously possible with live agents. Voice users can interface with the securities trading application. Thanks to the speech solution, Clients can obtain stock quotes and execute securities transactions 24 x 7.

Due to the service's efficiency, user friendliness, and attractive fee structure, speech recognition has become for many the preferred method to conduct financial transactions. Over 80 percent of our telephone trades are now conducted using the speech interface."

The speech-activated service includes all of the shares and warrants traded on the German stock exchange, and securely processes transactions. The system can identify the 3,000 most frequently requested securities by name, and another 42,150 securities by their corresponding securities numbers. Apart from trading in stocks and shares, the speech recognition service also deals with price inquiries for index and individual securities, and offers access to personal trading portfolios.